Redhawk Resources closes $126,500 private placement

Photo of author

By CPE News

Vancouver (pcJ News Briefs) – Redhawk Resources, Inc. (TSX: RDK; FSE: QF7) has closed its previously announced non-brokered private placement of 2,300,000 units at a price of $0.055 per unit for gross proceeds of $126,500. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable into one additional common share for a period of two years at a price of $0.075 per Share.

Redhawk Resources intends to use proceeds for general working capital. Finder’s fees of $2,475 were paid in cash, being 5% of the gross proceeds of a portion of the private placement received by the company.

Redhawk Resources is a Canadian-based resource exploration and development company with a focus on the continued advancement of the Copper Creek copper-molybdenum project in San Manuel, Arizona. The advanced Copper Creek Arizona property consists of approximately 75 km² of contiguous patented and unpatented mining claims and state prospecting permits, located about 112 km northeast of Tucson, Arizona.

photo credit: Redhawk Resources