TORONTO, Oct. 16, 2015 /CNW/ – Red Tiger Mining Inc., (TSXV: RMN), (“Red Tiger” or the “Company“) is pleased to announce that it has closed on 32,200,000 common shares (each, a “Common Share“) of its previously announced private placement (see Press Release August 14th, 2015) for CAD$1,610,000 (or CAD$0.05 per Common Share). The Common Shares issued under the Private Placement will be issued in two tranches: under the first tranche 15,863,336 Common Shares (the “First Tranche Shares“) were issued on October 16, 2015 to Gerald Metals S.A. (“Gerald“) and insiders of the Company; and under the second tranche 16,336,664 Common Shares (the “Remaining Shares“) will be issued to Gerald upon acceptance by the TSX Venture Exchange (the “TSXV“) of the Personal Information Forms (“PIFs“) of Gerald’s directors and the receipt by Gerald of the TSXV’s conditional approval of the issuance by Red Tiger to Gerald of the Remaining Shares (the “TSXV Acceptance and Approval“).
Red Tiger is engaged in copper cathode production, and in the exploration and development of copper and gold projects through its wholly-owned subsidiary, Minerales Libertad, S.A. de C.V. (“Minerales”) at San Antonio de la Huerta, in the state of Sonora, Mexico.