ST. JOHN-S, NEWFOUNDLAND AND LABRADOR — (Marketwired) — 06/12/13 — Red Moon Potash Inc. („the Company“ – „Red Moon“) (TSX VENTURE: RMK) and Vulcan Minerals Inc. („Vulcan“) (TSX VENTURE: VUL) announce that Red Moon has issued by way of a non-brokered private placement 2,500,000 units (the „Units“) at $0.10 per Unit to Vulcan, a related party for proceeds of $250,000 which will be used to fund the Company-s mineral exploration activities in western Newfoundland and general working capital. The Units consist of one common share and one-half of a common share purchase warrant (the „Warrants“), with each full warrant exercisable at a price of $0.25 per common share for a period of two years. The shares will have a four month hold period (expiring October 12, 2013) as per applicable securities law. The financing is subject to final TSX Venture Exchange approval. Vulcan will now own 60.53% of the outstanding common shares of Red Moon or 61.78% if the warrants are exercised (without further dilution).
This release may contain certain forward-looking statements. Actual events or results may differ from the Company-s expectations. Certain risk factors beyond the Company-s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.
Shares Issued: 38,000,004
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Red Moon Potash Inc. Patrick J. Laracy President (709) 754-3186
Red Moon Potash Inc. Gerri A. MacNeil Business Manager, Investor Relations (709) 754-3186
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