The private placement is closedRedhawk Resources closes $4.01-million financing
2010-05-03 18:17 ET - News Release
Mr. Stephen Barley reports
REDHAWK CLOSES $4 MILLION PRIVATE PLACEMENT
Redhawk Resources Inc., further to Stockwatch news dated April 23, 2010, has closed a non-brokered private placement of 11,462,860 units at a price of 35 cents per unit to raise gross proceeds of $4,012,001. Each unit consists of one common share and one-half of a transferable common share purchase warrant. Each whole share purchase warrant will be exercisable into one additional common share at an exercise price of
.50 per common share for a period of two years, subject to accelerated expiry if the volume weighted average trading price of the Company's common shares is equal to or greater than $1.00 for 20 consecutive trading days. If at any time after the date that is 4 months and one day after the closing date the volume weighted average trading price for the Company's common shares on the TSX Venture Exchange (the "Exchange") (or such other stock exchange on which such shares are listed) is equal to or greater than $1.00 for 20 consecutive trading days, the Company may, within five days after such an event, provide notice (by issuing a news release) to the holders of warrants of early expiry and thereafter, the warrants will expire on the date which is 30 days after the date of the notice to such holders of warrants.
So let's see what they do now!