BRIEF-Redhawk signs option agreement on Zambian copper/cobalt projects with Copperzone Resources

Wed Sep 14, 2016 9:08am EDT
 
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Sept 14 (Reuters) - Redhawk Resources Inc

* Redhawk signs option agreement on Zambian copper/cobalt projects with Copperzone Resources Ltd. and announces $1,050,000 private placement

* Option agreement on four copper/cobalt projects in Zambia

* Says terms of option agreement entitle redhawk to earn a 55% interest in projects

* Says under terms of option agreement, co to make exploration expenditures of us $1.5 million over a twelve month period

* Announces a non-brokered private placement for up to 15 million units of company at a price of $0.07 per unit

* Proceeds of private placement will be used for initial work program on projects and for general working capital Source text for Eikon: Further company coverage: