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VANCOUVER, June 24, 2016 /CNW/ - Redzone Resources Ltd.
("Redzone" or the "Company") (TSXV:REZ) announces that it has
completed the first tranche of its previously announced
non-brokered private placement (the "Offering") pursuant to which
it issued an aggregate of 4,727,777 units ("Units") at a price of
$0.09 per Unit to raise aggregate
gross proceeds of approximately $425,500. 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. Insiders of Redzone purchased 734,223 Units in the
first tranche of the Offering. The Offering remains subject
to the receipt of final regulatory approvals. All securities
issued and issuable in the first tranche of the Offering are
subject to a statutory hold period expiring on October 24, 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.