July 10, 2007
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 141,975 Series D Units and 220,022,650 Series E Units for total gross proceeds of $251,986,325 (in each case including securities issued pursuant to the partial exercise of an over-allotment option granted to the Agents) pursuant to a short form prospectus. Each Series D Unit consists of a secured $1,000 principal amount Series D Note and 320 common shares of Redcorp. The Series D Notes bear interest at the rate of 13% per annum with a 5 year term. Each Series E Unit consists of one common share of Redcorp and one-half of one common share purchase warrant of Redcorp. The net proceeds of the offering will be used for the exploration, development and construction of Redcorp's Tulsequah Project in British Columbia and for general working capital purposes. The syndicate of agents was led by Paradigm Capital Inc. and included Canaccord Capital Corporation, Dundee Securities Corporation, Octagon Capital Corporation, Blackmont Capital Inc. and MGI Securities Inc.
Wildeboer Dellelce LLP represented the Agents with a team that included Derek Sigel, Vaughn MacLellan, Sanjeev Patel and Alexandra Vazquez (corporate/securities), Chris Partridge (secured lending) and Kevin Fritz (tax).