TORONTO, ONTARIO--(Marketwired - March 9, 2015) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE OR DISSEMINATION TO THE UNITED STATES
Red Mile Minerals Corp. ("Red Mile" or the "Company") (TSX VENTURE:RDM) has closed a non-brokered private placement financing for gross proceeds in the amount of $615,000. The Company issued 12,300,000 units (the "Units") at a price of $0.05 per Unit. Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant (each a "Warrant"), entitling the holder to acquire a Common Share at $0.06 until March 9, 2017.
The Company intends to use the net proceeds to further asset review and evaluation opportunities, and for general working capital purposes.
The Common Shares, Warrants and shares underlying the Warrants will be subject to a four month and one day statutory hold period expiring on July 10, 2015.
The Company paid finders' fees of 808,000, non-transferable warrants (the "Finders' Warrants") to certain arm's length finders in connection with the private placement. Each Finders' Warrants will entitle the finder to purchase a common share at a price of $0.05 per share until March 9, 2017.
About Red Mile Minerals
Red Mile Minerals is a closely held mineral exploration company with a gold property along the prolific Destor-Porcupine gold-producing region in Ontario and continues to seek additional mineral exploration opportunities where the Company's exploration expertise and corporate share structure could substantially enhance shareholder value.
Contact Information:
aaron@assetstrategy.ca