NewsREDHAWK RESOURCES AMENDS PRIVATE PLACEMENT FINANCING
Redhawk Resources Inc., in connection with its previously announced private placement with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd., and including GMP Securities LP, Byron Securities Ltd. and Primary Capital Inc., has agreed to amend the terms of the offering. Under the revised terms, the underwriters have agreed to purchase, on an underwritten private-placement basis, 26,667,000 units ("Units") in the capital of Redhawk at
.75 per Unit (the "Unit Price") for aggregate gross proceeds to Redhawk of $20,000,250 (the "Offering"). Each Unit is comprised of one common share and one-half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $1.00 per common share for a period of 24 months (the "Expiry Date") following the Closing Date (as defined herein). The Company has agreed to grant the Underwriters an option to purchase up to an additional 4,000,050 Units at the Unit Price per Unit for additional aggregate gross proceeds to Redhawk of $3,000,037.50, exercisable at any time, in whole or in part, on or prior to the date that is 30 days following the Closing Date, or such earlier date as determined by the TSX Venture Exchange (the "Underwriters Option"). If the Underwriters Option is exercised in full, the aggregate gross proceeds to Redhawk will be $23,000,287.50.
Marketinfo - do your worst - hard to be happy about this extra dilution and copper sitting at $4.10/lb right now.