Proceeds will fund the exploration and advancement of mineral projects
By Devika Patel
Knoxville, Tenn., Feb. 8 - Redhill Resources Corp. said it increased a non-brokered private placement of units. The deal priced for C$2.5 million on Jan. 21 and will now raise C$3 million.
The company will now sell 30 million units of a common share and one warrant at C$0.10 per unit.
Each whole warrant will be exercisable at C$0.15 for one year. The strike price reflects a 15.38% premium to the Jan. 20 closing share price of C$0.13.
Proceeds will be used for exploration on the Gascoyne projects, to advance the Honey Comb Hills and Morgan rare-earth properties and for general working capital.
Vancouver, B.C.-based Redhill is a precious metals exploration company.
| Issuer: | Redhill Resources Corp.
|
| Issue: | Units of a common share and one warrant
|
| Amount: | C$3 million
|
| Units: | 30 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.15
|
| Agents: | Non-brokered
|
| Pricing date: | Jan. 21
|
| Upsized: | Feb. 8
|
| Stock symbol: | TSX Venture: RHR
|
| Stock price: | C$0.14 at close Jan. 21
|
| Market capitalization: | C$12.52 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
