Vancouver, Canada – March 16, 2017 – Further to the news release dated February 21, 2017, Redhawk Resources, Inc. (“Redhawk” or the “Company”) (TSX: RDK, FSE: QF7) is pleased to announce the completion of the Company’s non- brokered private placement (the “Private Placement”) of 2,300,000 units of the Company (“Units”) at a price of $0.055 per Unit to raise total gross 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.
The proceeds of the Private Placement will be used for general working capital. Finder’s fees of $2,475 were paid in cash, being 5% of the gross proceeds of a portion of the Private Placement received by the Company. All securities issued pursuant to the Private Placement are be subject to a hold period expiring on July 15, 2017, being four months and a day following the date of issue.