Red Eagle Mining Corp RDEMF

RE: News

[gold_diggers1]

mumu55 wrote:

 

CB Gold arranges $2-million private placement

 

2016-04-21 17:11 ET - News Release

 

Mr. Patrick Balit reports

CB GOLD ANNOUNCES PRIVATE PLACEMENT

CB Gold Inc. has arranged a non-brokered private placement of up to 26,666,667 units at a price of 7.5 cents per unit for total gross proceeds of up to $2-million. Each unit consists of one common share and one warrant, with each warrant exercisable into one share at 10 cents per share for a period of five years. CB Gold will have the right to call the warrant after one year from the date of issuance.

Red Eagle Mining will purchase 16,933,333 units for total gross proceeds of $1.27-million ($1-million (U.S.)). Subsequent to the purchase, Red Eagle Mining will own a total of 248,043,377 shares of CB Gold. The shares will be subject to a four-month hold period from the date of issuance.

 

With all these recent shares deals going on:
- RD purchased 7.8M CBJ shares at $0.09 in the open market
- RD will purchase 17M shares at $0.075 in the next CBJ PP of $2M 
- RD offers $11M PP with 30M shares at $0.38

Is this what is holding down RD share price??  It seems it cannot get over $0.60/share?!
.