Red Moon Resources Inc. – Announces $3,500,000 Financing
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946 Email: [email protected]
www.redmoonresources.com
Not for release in the United States or to US Newswire services
News Release
February 17, 2021
Red Moon Resources Inc. – Announces $3,500,000 Financing
St. John’s, Newfoundland and Labrador - Red Moon Resources Inc. (“the Company” -
“Red Moon” TSX-V: RMK), announces that it proposes to carry out a non-brokered private
placement (the “Offering”) for proceeds of up to $3,500,000.00. Under the terms of the
Offering, the Company intends to place 10,000,000 units (the “Units”). The Units will be offered
at a price of $0.35 and will consist of one common share and one half common share purchase
warrant, with each whole warrant to be exercisable at a price of $0.55 per common share for a
period of two years following the close of the offering subject to an acceleration clause whereby
in the event that the closing price of the Company’s Shares on the TSX Venture Exchange is
$0.85 or greater per share during any ten (10) consecutive trading day period at any time
subsequent to four months and one day after the closing date, the Warrants will expire at 4:00
p.m. (Newfoundland time) on the 30th day after the date on which the Company provides
notice of such accelerated expiry to the holders of the Warrants.
The proceeds of the offering will be used by the Company to complete a feasibility study on its
salt deposit in western Newfoundland, to carry out mineral exploration and development
activities 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 approval.
Red Moon Resources Inc. is an industrial minerals company exploring and developing projects
in Newfoundland and Labrador.
For information please contact:
Patrick J. Laracy, President
(709) 754-3186
www.redmoonresources.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release. This release may contain certain forward -looking statements. Actual events or
results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control
may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on
forward-looking information. Except by law, the Company undertakes no obligation to publicly update or
revise forward-looking information.