Redzone Resources Ltd.
CNSX : REZ

Redzone Resources Ltd.

July 14, 2009 15:45 ET

Redzone Resources Ltd. Completes Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Redzone Resources Ltd. (CNSX:REZ) ("Redzone") is pleased to announce that it has completed its previously announced non-brokered private placement (the "Offering") of 5,000,250 units ("Units") at a price of $0.40 per Unit for $2,000,100. Each Unit consists of one common share of Redzone and one share purchase warrant of Redzone. Each whole share purchase warrant entitles the holder thereof to acquire one additional common share of Redzone for a period of 12 months at an exercise price of $0.60 per share. Redzone paid finder's fees of $104,076 in connection with the Offering.

Redzone is seeking to acquire exploration stage mineral resource assets. The proceeds of the Offering will be used to fund Redzone's consideration of such opportunities, including due diligence costs, as well as for general corporate expenses.

The Offering remains subject to the receipt of all applicable regulatory approvals.

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Redzone, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Redzone Resources Ltd.
    Neil Halldorson
    President
    (604) 562-2582