Redhawk Announces Amendments to Convertible Debentures
October 11 2017 - 4:50PM
Redhawk Resources, Inc.
(“
Redhawk” or the “
Company”)
(TSX:RDK) (FWB:QF7) announces that effective August 24, 2017,
certain terms of its convertible debentures in the principal amount
of US$214,000 issued by the Company on August 24, 2015, and amended
August 24, 2016 (the “
Debentures”), will be
amended as set out below. The Debentures are convertible, at
the option of the holder, into units (“
Units”) of
the Company comprised of one common share (a
“
Share”) and one common share purchase warrant (a
“
Warrant”) until the maturity date of the
Debentures.
Effective August 23, 2017, the terms of the
Debentures will be amended (the “2017
Amendments”), as follows:
- the maturity date of the Debentures will be extended for a
period of one year from August 24, 2017, to August 24, 2018;
- the conversion price of the Units will be reduced from $0.045
per Unit to $0.0225 per Unit; and
- the exercise price for the Warrants will be reduced from $0.06
to $0.03.
The Company received the approval for the 2017
Amendments from all of the Debenture holders. The 2017
Amendments are subject to the approval of the Toronto Stock
Exchange. Except as amended by the 2017 Amendments, all other terms
of the Debentures remain the same.
About Redhawk
Redhawk is a Canadian-based resource exploration
and development company with a focus on the continued advancement
of the Copper Creek copper-molybdenum project in San Manuel,
Arizona. The advanced Copper Creek Arizona property consists of
approximately 38 km² of contiguous patented and unpatented mining
claims and state prospecting permits, located about 112 km
northeast of Tucson, Arizona.
ON BEHALF OF THE BOARD“J. Stephen Barley” J.
Stephen Barley, Executive Chairman For more information,
please contact:J. Stephen Barley, Executive ChairmanTel:
604-633-5088Email: info@redhawkresources.comWebsite:
www.redhawkresources.com
Cautionary Note Regarding
Forward-Looking InformationCertain 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. 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 risks and uncertainties relate to the
ability of the Company to obtain the approval of the Toronto Stock
Exchange for the 2017 Amendments. The Company does not
intend, and does not assume any obligation, to update any
forward-looking information except as required by law.