September 08, 2006
Redcorp Ventures Ltd. (TSX:RDV), a Vancouver-based mineral exploration and development company with active projects in British Columbia and Portugal, completed an offering of 15,874,700 Units and 8,571,430 Flow-Through Shares pursuant to a short form prospectus for gross proceeds of $8.2 Million. Each Unit consists of one common share and one-half of one common share purchase warrant, each whole warrant exercisable to acquire one common share until September 8, 2008 at a price of $0.40 per share. The net proceeds of the offering will be used primarily for exploration of Redcorp's Tulsequah property in British Columbia and the Lagoa Salgada property in Portugal as well as the completion of a feasibility study update on the Tulsequah property and for general corporate purposes. The underwriting syndicate was led by Paradigm Capital Inc. and Octagon Capital Corporation and included Dundee Securities Corporation.
Wildeboer Dellelce LLP represented the Agents with a team that included Derek Sigel, Sanjeev Patel, Irene Kim (corporate and securities) and Kevin Fritz (tax).