Red Moon Proposes Name Change and Renewable Energy Storage Spinout
RED MOON PROPOSES NAME CHANGE AND RENEWABLE ENERGY STORAGE SPINOUT St. John’s, Newfoundland and Labrador, May 13, 2021 – Red Moon Resources Inc. (the “Company” or “Red Moon” – TSXV: RMK) is pleased to provide the following corporate update: Highlights: Red Moon will be proposing a name change, to be presented to shareholders at a special AGM slated for July, 2021; The name change will better reflect the Company’s core business (potential supplier of high-grade salt for North American de-icing markets) as it advances its Great Atlantic Salt Project in western Newfoundland through the Feasibility Stage; To create a pure North American salt focus and unlock the value of other assets within the Company to the maximum benefit of shareholders, Red Moon is weighing various strategic options beginning with a planned spinout of “Fischell’s Brook”; The Fischell’s Brook asset will underpin Red Moon’s spinout of a renewable energy storage company that […]