By Devika Patel
Knoxville, Tenn., Aug. 5 - Red Sun Mining, Inc. completed a $1.75 million private placement of convertible preferred stock on July 30, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The preferreds were sold with warrants for up to 7 million common shares. The warrants are exercisable at $0.25.
Each preferred is convertible into shares at $0.25 per share.
Midtown Partners & Co., LLC was the agent.
The mineral explorer is based in North Hollywood, Calif.
| Issuer: | Red Sun Mining, Inc.
|
| Issue: | Convertible preferred stock
|
| Amount: | $1.75 million
|
| Conversion price: | $0.25
|
| Warrants: | For 7 million shares
|
| Warrant strike price: | $0.25
|
| Agent: | Midtown Partners & Co., LLC
|
| Settlement date: | July 30
|
| Stock symbol: | OTCBB: RDSN
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
