April 04, 2019
Stock Symbol: TSX-V: RMK
Red Moon Resources Inc. – Increases Financing to $255,000.00
St. John’s, Newfoundland and Labrador – Red Moon Resources Inc. (“the Company” – “Red Moon” TSX-V: RMK), announces that further to its news release dated February 27th announcing a non-brokered private placement (the “Offering”) for proceeds of up to $200,000.00, the Company advises that it proposes to increase the amount of that financing to $255,000.00 subject to TSX-V approval. Under the terms of the Offering, the Company intends to place 2,550,000 units at a price of $0.10 which will consist of one common share and one-half of a common share purchase warrant with each full warrant exercisable at a price of $0.25 per common share for a period of two years following the close of the offering. The financing is expected to close on or before April 10th. Certain insiders of the Company will participate in the financing.
Red Moon is an industrial minerals company. It commenced production at the Ace gypsum mine in late 2018. The company’s Captain Cook salt deposit is at the feasibility analysis stage and the Black Bay nepheline deposit is at the resource and metallurgical evaluation stage. All the projects are strategically located in Newfoundland and Labrador. Vulcan Minerals Inc. (TSX-V: VUL) currently owns approximately 67% of the common shares of Red Moon.
We seek Safe Harbor.
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