Red Moon Closes First Tranche of $3.5 Million Financing
Red Moon Closes First Tranche of $3.5 Million Financing St. John’s, Newfoundland and Labrador, March 11, 2021 – Red Moon Resources Inc. (“the Company” – “Red Moon” – TSXV: RMK) is pleased to announce that it has closed a first tranche of 3,524,003 units for proceeds of $1,233,401 from the previously announced private placement of $3,500,000 in units priced at $0.35 (refer to Feb. 17, 2021 news release). The balance of $2,266,599 will close next week. Each unit consists of one common share and one half of a common share warrant, with each whole warrant exercisable at a price of $0.55 per common share for a period of two years following closing. Proceeds of the financing will go toward completing a Feasibility Study for the Great Atlantic Salt Project featuring a large and homogeneous high-grade resource strategically located near a deep-sea port in western Newfoundland. Financing proceeds will also go toward […]