Red Moon Resources Inc.– Closes $700,000 Financing
Red Moon Resources Inc.– Closes $700,000 Financing St. John’s, Newfoundland and Labrador – Red Moon Resources Inc. (“the Company” – “Red Moon” TSX-V: RMK), announces the non-brokered private placement (the “Offering”) announced on January 26, 2021 has closed for proceeds of $700,000.00. Under the terms of the Offering, the Company placed 7,000,000 units (the “Units”) at a price of $0.10 consisting of one common share and one half common share purchase warrant exercisable at a price of $0.17 per common share for a period of two years following the close of the offering subject to an acceleration clause. The proceeds of the offering will be used for mineral exploration and development activities in Newfoundland and to fund working capital. The securities issued will have a four month hold period as per applicable regulations. The financing is subject to TSX Venture Exchange final approval. Insiders purchased 970,000 units. The insider participation is exempt from […]