REDHALK ANNOUNCES .25 CENT FINANCING !!!I TOLD YOU AND WARNED YOU DIDN"T I ABOUT ALL THE ANONYMOUS DUMPING EHHH??? Iwarned you months ago they were going to run low on cash DIDN"T I? Now more dilution to start
TSX :
RDK
OTCQX : RHWKF
FRANKFURT : QF7
October 04, 2013 13:00 ET
Redhawk Announces $2,600,000 Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 4, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Redhawk Resources, Inc. ("Redhawk" or the "Company") (TSX:RDK)(OTCQX:RHWKF)(FRANKFURT:QF7) is pleased to announce that it is proceeding with a non-brokered private placement (the "Private Placement") of 10,400,000 common shares (each a "Share") of the Company at a price of $0.25 per Share for gross proceeds of $2,600,000. The Company may consider raising the Offering up to a maximum of $3,000,000.
Net proceeds of the Private Placement will be used for a new district drilling program and for working capital. Finder's fees in accordance with industry rates may be payable in connection with the Private Placement. It is anticipated that closing of the Private Placement will occur on or about October 15th, 2013. Certain insiders of the Company will participate in the Private Placement.
Stephen Barley, Executive Chairman of the Company commented: "Redhawk's Copper Creek project has a number of high potential drill targets which could add significant upside to the value of the property. We have chosen a priority target for exploration and will provide additional details in a follow up news release. The Company appreciates the support of our shareholders and investors in these difficult markets and will continue to carry out work programs that add value for our shareholders."
Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day from the closing date of the Private Placement. Completion of the Private Placement is subject to the approval of the Toronto Stock Exchange.