Non-brokered offering funds capital expenditures and working capital
By Devika Patel
Knoxville, Tenn., July 15 - Red Tiger Mining Inc. said it raised C$500,000 in the first tranche of a C$2 million non-brokered private placement of stock. The deal priced June 4.
The company is selling common shares at C$0.18 apiece. The price per share is a 21.74% discount to the June 3 closing share price of C$0.23. Red Tiger sold 2,777,778 shares to Kirkland Intertrade Corp. in the initial 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$2 million
|
| Price: | C$0.18
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Kirkland Intertrade Corp. (for C$500,000)
|
| Pricing date: | June 4
|
| Settlement date: | July 15 (for C$500,000)
|
| Stock symbol: | TSX Venture: RMN
|
| Stock price: | C$0.23 at close June 3
|
| Market capitalization: | C$18.57 million
|
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