Redhill Participates in High North Debenture Private Placement
05 4월 2014 - 2:45AM
Marketwired
Redhill Participates in High North Debenture Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 4, 2014) -
Redhill Resources Corp., (TSX-VENTURE:RHR), ("Redhill" or the
"Company") announces it has purchased 850 12% convertible
subordinated debentures at a subscription price of $1,000 per
debenture (the "Debentures"), for a total cost of $850,000 (the
"Investment"), in a private placement recently completed by High
North Resources Ltd. ("High North"). The Debentures bear interest
at a rate of 12.00% per annum calculated annually, not in advance
and payable semi-annually on October 3, 2014 and April 4, 2015.
Each Debenture can be convertible at the holder's option into
common shares of High North for a period of one year at $0.85 per
Common Share.
In addition, Redhill holds 6,000,000 common shares of High North
and 1,500,000 share purchase warrants of High North, representing
approximately 12% of High North's issued and outstanding common
shares on a fully diluted basis.
Redhill is continuing exploration of its British Columbia
mineral properties and plans to mobilize crews to its SAT property
in early May. Located in north-central B.C., approximately 50
kilometres northeast of Smithers, the SAT property comprises 10
road-accessible claims covering approximately 4,260 hectares. It is
located within prospective Stikine terrane with known copper
porphyry deposits including the historical Granisle and Bell mines
as well as the Big Onion and Morisson deposits.
Due to lack of early exploration success on the Yellow Chris
South property, optioned in 2013 from Teuton Resources Corp.,
Redhill has dropped the option and will retain no interest in the
property.
Jasvir Kaloti, Chief Financial Officer and Corporate Secretary,
has resigned from both positions. Management of Redhill thanks
Jasvir for her many years of service and wishes her well in her
future endeavours. Graham Harris, chairman of the board of Redhill,
was appointed as the Interim Chief Financial Officer and Marla
Collier was appointed as Corporate Secretary.
REDHILL RESOURCES CORP.
Andrew Bowering, President & CEO
NEITHER THE TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX-VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
"This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements."
Redhill Resources Corp.Investor Relations(604) 662-8184(604)
602-1606info@redhill-resources.comwww.redhill-resources.com
Redhill Resources Corp. (TSXV:RHR)
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Redhill Resources Corp. (TSXV:RHR)
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