Red Moon Resources Inc.– Arranges $700,000 Financing
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946 Email: [email protected]
www.redmoonresources.com
News Release
January 26, 2021
Red Moon Resources Inc.– Arranges $700,000 Financing
St. John’s, Newfoundland and Labrador - Red Moon Resources Inc. (“the Company” -
“Red Moon” TSX-V: RMK), announces that it has arranged a non-brokered private placement
(the “Offering”) for proceeds of up to $700,000.00. Under the terms of the Offering, the
Company intends to place 7,000,000 units (the “Units”). The Units will be offered at a price of
$0.10 and will consist of one common share and one half common share purchase warrant
exercisable at a price of $0.17 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 $0.30 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 for mineral exploration and development activities in
Newfoundland 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. There will be no finder’s fees or commissions payable.
Red Moon Resources Inc. is an industrial minerals company exploring and developing projects
in Newfoundland and Labrador.
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.
For information please contact:
Patrick J. Laracy, President
(709) 754-3186
www.redmoonresources.com
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946 Email: [email protected]
www.redmoonresources.com