March 15, 2007
Redcorp Ventures Ltd (TSX:RDV), a Vancouver-based mineral exploration and development company with active projects in British Columbia and Portugal, completed a private placement financing for gross proceeds of approximately $10,000,000 through the issuance of 18,181,800 Units at a price of $0.55 per Unit. Each Unit consists of one common share of Redcorp and one-half of one common share purchase warrant, each whole warrant being exercisable to purchase one common share of Redcorp at a price of $0.70 per share until March 15, 2008. The net proceeds from the offering will be dedicated to the development of Redcorp’s Tulsequah property in British Columbia, further exploration on the Lagoa Salgada property in Portugal and general corporate purposes. Paradigm Capital Inc. acted as lead agent for the offering with a syndicate that included Dundee Securities Corporation and Octagon Capital Corporation.
Wildeboer Dellelce LLP represented the Agents with a team that included Derek Sigel, Sanjeev Patel and Irene Kim (corporate/securities).