Red Moon Potash Announces Private Placement for $250,000

Red Moon Potash Inc. (TSXV:RMK) announced that it will proceed with a non-brokered private placement worth $250,000 with Vulcan Minerals Inc., a related party.

As quoted in the press release:

Under the terms of the Offering, 2,500,000 units will be offered at a price of $0.10 and will consist of one common share and one-half of a common share purchase warrant, with each full warrant exercisable at a price of $0.25 per common share for a period of two years following the closing date of the offering. The proceeds of the offering will be used to fund mineral exploration activities in western Newfoundland and general working capital. The shares issued will have a four month hold period as per applicable securities law.

To view the whole press release, click here.