Redhill Increases Stake in High North
26 4월 2014 - 2:40AM
Marketwired
Redhill Increases Stake in High North
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 25, 2014) - This
news release is issued pursuant to Multilateral Instrument 62-104 -
Take-Over Bids and Issuer Bids and National Instrument
62-103 - The Early Warning System and Related Take-Over Bid and
Insider Reporting Issues.
Redhill Resources Corp. ("Redhill") (TSX-VENTURE:RHR), of Suite
2000 - 1177 West Hastings Street, Vancouver, B.C. V6E 2K3,
announces that it has acquired ownership and control over 850 12%
convertible unsecured subordinated debentures (the "Debentures") of
High North Resources Ltd. ("High North") at a price of $1,000 per
Debenture for an aggregate principal amount of $850,000
representing approximately 9.80% of the total issued and
outstanding Debentures of High North. The principal amount of the
Debentures is convertible into common shares of High North at a
price of $0.85 per share at any time on or before April 4,
2015.
Following the acquisition, Redhill beneficially owns and
controls a total of 6,000,000 common shares in the capital of High
North representing approximately 11.64% of High North's issued
common shares, (ii) beneficially owns warrants (the "Warrants")
entitling Redhill to purchase an additional 1,500,000 common shares
at a price of $0.50 per share; or, assuming exercise of the
Warrants, a total of 7,500,000 common shares or approximately
14.14% of High North's issued and outstanding common shares on a
post-exercise beneficial ownership basis, and (iii) beneficially
owns 850 Debentures having an aggregate principal amount of
$850,000 entitling Redhill to acquire, upon conversion, an
additional 1,000,000 common shares at a price of $0.85 per share
or, assuming conversion of the Debentures, a total of 8,500,000
common shares or approximately 15.73% of High North's issued and
outstanding common shares on a post-conversion beneficial ownership
basis (including the exercise of the Warrants).
The Debentures were acquired by Redhill as principal for
investment purposes pursuant to a private placement offering of
Debentures by High North at a subscription price of $1,000 per
Debenture for a total subscription price of $850,000 cash in
reliance upon the prospectus exemption contained in section 2.3(1)
of National Instrument 45-106 Prospectus and Registration
Exemptions by virtue of Redhill's status as an "accredited
investor" under applicable securities laws. Redhill's holdings in
High North will be evaluated and the investments increased or
decreased from time to time as circumstances warrant.
A report respecting this acquisition will be electronically
filed with the applicable securities commission in each
jurisdiction where High North is reporting and will be available
for viewing through the Internet at the Canadian System for
Electronic Document Analysis and Retrieval (SEDAR) at
www.sedar.com.
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.
Redhill Resources Corp.Andrew BoweringPresident &
CEO604-662-8184 or Toll Free:
1-877-662-8184604-602-1606www.redhill-resources.com
Redhill Resources Corp. (TSXV:RHR)
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부터 4월(4) 2024 으로 5월(5) 2024
Redhill Resources Corp. (TSXV:RHR)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024