Redhawk Resources, Inc.

Redhawk Resources, Inc.

October 04, 2013 13:00 ET

Redhawk Announces $2,600,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 4, 2013) -


Redhawk Resources, Inc. ("Redhawk" or the "Company") (TSX:RDK)(OTCQX:RHWKF)(FRANKFURT:QF7) is pleased to announce that it is proceeding with a non-brokered private placement (the "Private Placement") of 10,400,000 common shares (each a "Share") of the Company at a price of $0.25 per Share for gross proceeds of $2,600,000. The Company may consider raising the Offering up to a maximum of $3,000,000.

Net proceeds of the Private Placement will be used for a new district drilling program and for working capital. Finder's fees in accordance with industry rates may be payable in connection with the Private Placement. It is anticipated that closing of the Private Placement will occur on or about October 15th, 2013. Certain insiders of the Company will participate in the Private Placement.

Stephen Barley, Executive Chairman of the Company commented: "Redhawk's Copper Creek project has a number of high potential drill targets which could add significant upside to the value of the property. We have chosen a priority target for exploration and will provide additional details in a follow up news release. The Company appreciates the support of our shareholders and investors in these difficult markets and will continue to carry out work programs that add value for our shareholders."

Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day from the closing date of the Private Placement. Completion of the Private Placement is subject to the approval of the Toronto Stock Exchange.

About Redhawk

Redhawk is a Canadian-based resource exploration and development company with primary focus on the accelerated development of its advanced stage Copper Creek copper-molybdenum project in San Manuel, Arizona. The 100% owned Copper Creek property consists of approximately thirty-three square miles of contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona and about 15 miles east of San Manuel. The property is in the prolific southwest US porphyry copper belt at the projected intersection of a major northwest belt of porphyry copper deposits or mines (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east-northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci). The property is within sight of the former BHP Kalamazoo/San Manuel copper smelter and mine and within 30 miles of an existing operating copper mill and smelter. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure including power, rail, water, roads and qualified consultants.


J. Stephen Barley, Executive Chairman

Cautionary Note Regarding Forward Looking Information

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These forward looking statements relate to future events or the Company's future performance, business prospects or opportunities including, without limitation, statements relating to the completion of the Private Placement and the use of the net proceeds of the Private Placement. The Company believes that the expectations reflected in such forward looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak only as of the date of this press release. Forward looking information involves risks and uncertainties which may cause actual results to be materially different from those expressed or implied by such forward looking information. Such risk and uncertainties relate to, among other things: completion of all conditions to the Private Placement; the participation in the Private Placement by an institutional investor, high net worth shareholders or insiders of the Company; the ability to complete the Private Placement on or about October 15, 2013; and management's discretion to reallocate the net proceeds of the Private Placement. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws of any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirements.

Contact Information