Non-brokered deal expected to finance general working capital purposes
By Devika Patel
Knoxville, Tenn., April 29 – Red Tiger Mining Inc. said it raised $500,000, or C$601,050, in the initial tranche of a $1 million non-brokered private placement of stock.
The company is selling common shares at C$0.055 apiece. The price per share is an 8.33% discount to the April 28 closing share price of C$0.06.
Red Tiger sold 10,928,181 shares to MMC Holding in the first tranche.
Proceeds will be used for general working capital purposes.
Red Tiger is a copper and gold producer based in Toronto.
| Issuer: | Red Tiger Mining Inc.
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| Issue: | Common shares
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| Amount: | $1 million
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| Price: | C$0.055
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| Warrants: | No
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| Agent: | Non-brokered
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| Investor: | MMC Holding (for $500,000)
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| Settlement date: | April 29 (for $500,000)
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| Stock symbol: | TSX Venture: RMN
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| Stock price: | C$0.06 at close April 28
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| Market capitalization: | C$5.57 million
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