pcNewsWire – Redzone Resources Ltd. (TSX-V: REZ) has completed the second and final tranche of its previously announced non-brokered private placement for 600,000 units at $0.16 per unit to raise additional gross proceeds of $96,000.
News Release
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Redzone Resources Ltd. Completes Final Tranche of Private Placement Financing
FOR IMMEDIATE RELEASE
June 6, 2017: Redzone Resources Ltd. (“Redzone” or the “Company”) (TSXV:REZ) announces that it has completed the second and final tranche of its previously announced non-brokered private placement (the “Offering”) pursuant to which it issued an additional 600,000 units (“Units”) at a price of $0.16 per Unit to raise additional gross proceeds of $96,000. Each Unit is comprised of one common share of the Company (a “Common Share”) and one-half of one share purchase warrant, with each whole share purchase warrant entitling the holder to acquire one additional Common Share at an exercise price of $0.24 for a period of two years, subject to acceleration in the event that the closing price of the Common Shares is equal to or exceeds $0.40 at any time following the date which is four months and one day after closing, all in accordance with the terms of the certificates representing such share purchase warrants. The Offering remains subject to the receipt of final regulatory approvals. All securities issued and issuable in the second tranche of the Offering are subject to a statutory hold period expiring on October 7, 2017.
For further information please contact:
Redzone Resources Ltd.
Michael Murphy
President and Chief Executive Officer
E: michael.murphy@redzoneresources.ca
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
