VANCOUVER, April 2, 2015 /CNW/ - Red Eagle Mining
Corporation (TSX-V: RD, OTCQX: RDEMF) has completed its
previously announced financing with Orion Mine Finance
("Orion") of a private placement of 14,640,112 common shares
("Shares") at CAD $0.33 per
Share for proceeds of US $3,807,421
which increases Orion's stake in Red Eagle Mining to 19.99%.
The Shares are subject to a four month hold period from the date of
issuance. Red Eagle Mining has also completed the closing of
the secured US $60,000,000 credit
facility with Orion. Further details can be found in Red
Eagle Mining's news release dated March 25,
2015.
About Red Eagle Mining
Red Eagle Mining is a well-financed gold exploration and
development company with an experienced mine-development
team. Management is focused on building shareholder value
through discovering and developing gold projects with low costs and
low technical risks in Colombia, a
jurisdiction with prolific historic production but until recently
limited modern exploration. Red Eagle Mining is developing
the 100 km² historic Santa Rosa Gold Project located in the
Antioquia Batholith. Development will initially commence with
the fully permitted San Ramon Gold Mine where a positive
Feasibility Study supports project development. Construction
is scheduled to commence by mid-2015 with production in 2016.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release includes
forward-looking statements that are subject to risks and
uncertainties. All statements within, other than statements
of historical fact, are to be considered forward looking.
Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
There can be no assurances that such statements will prove
accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. We do not assume any
obligation to update any forward-looking statements. This news
release does not constitute an offer to sell or a solicitation of
an offer to sell any securities in the United States. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
SOURCE Red Eagle Mining Corporation