VANCOUVER, British Columbia, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Redhawk Resources, Inc. (“Redhawk” or the “Company”) (TSX:RDK) (FWB:QF7) announces that it has settled debt in the aggregate amount of US$150,000 (C$192,975 at the applicable exchange rate) with certain lenders of the Company through the issuance today of 6,432,500 common shares of the Company (the “Shares”) at a deemed price of $0.03 per Share.
The issuance of the Shares to the lenders has been conditionally approved by the Toronto Stock Exchange. The Shares are subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.
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