Non-brokered offering funds capital expenditures and working capital
By Devika Patel
Knoxville, Tenn., April 30 - Red Tiger Mining Inc. said it took in C$500,000 in the second tranche of a C$1.5 million non-brokered private placement of stock. The deal priced April 8 and raised C$500,000 on April 17.
The company is selling 15 million common shares at C$0.10 apiece. The price per share is identical to the April 5 closing share price.
Red Tiger sold 5 million shares to Kirkland Intertrade Corp. in the first tranche. Kirkland bought 5 million shares in the second tranche.
Proceeds will be used for required capital expenditures and working capital at the Luz del Cobre mine.
Red Tiger is a copper and gold producer based in Toronto.
| Issuer: | Red Tiger Mining Inc.
|
| Issue: | Common shares
|
| Amount: | C$1.5 million
|
| Shares: | 15 million
|
| Price: | C$0.10
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Kirkland Intertrade Corp. (for C$1 million)
|
| Pricing date: | April 8
|
| Settlement dates: | April 17 (for C$500,000), April 30 (for C$500,000)
|
| Stock symbol: | TSX Venture: RMN
|
| Stock price: | C$0.10 at close April 5
|
| Market capitalization: | C$14.82 million
|
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