Vancouver, Canada – February 21, 2017 – Redhawk Resources, Inc. (“Redhawk” or the “Company”) (TSX: RDK, FSE: QF7) announces a non-brokered private placement (the “Private Placement”) for up to 2,300,000 units of the Company (“Units”) at a price of $0.055 per Unit to raise total proceeds of $126,500. Each Unit consists of one common share of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant is exercisable into one additional Share for a period of two years at a price of $0.075 per Share. Closing of the Private Placement is conditional upon, among other things, approval of the Toronto Stock Exchange.
The proceeds of the Private Placement will be used for general working capital. Finder’s fees of up to 5% of the Units sold or gross proceeds received by the Company pursuant to the Private Placement may be payable on the Private Placement, in cash or securities of the Company, as permitted. All securities issued pursuant to the Private Placement will be subject to a hold period expiring four months and a day following the date of issue.