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VANCOUVER, June 29, 2016 /CNW/ - Redzone Resources Ltd.
("Redzone" or the "Company") (TSXV:REZ) announces that it has
completed the second and final tranche of its previously announced
non-brokered private placement (the "Offering") pursuant to which
it issued an additional 872,111 units ("Units") at a price of
$0.09 per Unit to raise additional
gross proceeds of approximately $78,500. Accordingly, in combination with
the first tranche of the Offering which closed on June 23, 2016, the Company issued an aggregate of
5,599,888 Units to raise aggregate gross proceeds of approximately
$504,000. Each Unit is
comprised of one common share of the Company (a "Common Share") and
one share purchase warrant, with each share purchase warrant
entitling the holder to acquire one additional Common Share at an
exercise price of $0.15 for a period
of five years. The Offering remains subject to the receipt of
final regulatory approvals. All securities issued and
issuable in the second tranche of the Offering are subject to a
statutory hold period expiring on October
30, 2016.
The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release.
Forward Looking Statements – Certain information set forth in
this news release may contain forward-looking statements that
involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of Redzone,
including, but not limited to the impact of general economic
conditions, industry conditions, dependence upon regulatory
approvals, and the availability of financing. Readers are cautioned
that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements.
SOURCE Redzone Resources Ltd.