Redhill closes private placement for $600,000Redhill closes private placement for $600,000 2014-02-18 20:42 ET - News Release
Mr. Andrew Bowering reports
REDHILL CLOSES $600,000 FINANCING
Redhill Resources Corp. has closed its previously announced non-brokered private placement for gross proceeds of $600,000. The private placement consisted of the issuance of five million units at a price of 12 cents per unit.
Each unit consisted of one common share and one share purchase warrant exercisable for a two-year term from the closing of the private placement at an exercise price of 16 cents per warrant.
The net proceeds of the private placement will be used to finance its work commitments on its B.C. mineral properties and for general corporate and working capital purposes.
All securities issued pursuant to the private placement are subject to a statuary hold period expiring on June 19, 2014. The private placement remains subject to final acceptance of the TSX Venture Exchange