VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 16, 2016) - Redhawk Resources, Inc. ("Redhawk" or the "Company") (TSX:RDK) (FRANKFURT:QF7) announces that effective August 23, 2016 certain terms of its convertible debentures (the "Debentures") in the principal amount of US$214,000 issued by the Company on August 24, 2015 will be amended as set out below. The Debentures are convertible, at the option of the holder, into units ("Units") of the Company comprised of one common share (a "Share") and one common share purchase warrant (a "Warrant") until the maturity date of the Debentures.
Effective August 23, 2016, the terms of the Debentures will be amended (the "Amendments"), as follows:
The Company received the approval of the Amendments from all of the Debenture holders as well as the conditional approval of the Toronto Stock Exchange. Except as amended by the Amendments, all other terms of the Debentures remain the same.
Redhawk is a Canadian-based resource exploration and development company with a current focus on the advancement of the Copper Creek copper-molybdenum project in San Manuel, Arizona through a joint venture with Anglo American. The Copper Creek property consists of approximately twenty-nine square miles of contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure including power, rail, water, roads and qualified consultants. Redhawk is concurrently implementing a strategy for growth through the opportunistic acquisition of interests in further mineral projects during this period of decreased valuations in the mining sector.
ON BEHALF OF THE BOARD
J. Stephen Barley, Executive Chairman
Cautionary Note Regarding Forward Looking Information
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These forward looking statements relate to future events or the Company's future performance, business prospects or opportunities. The Company believes that the expectations reflected in such forward looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak only as of the date of this press release. Forward looking information involves risks and uncertainties which may cause actual results to be materially different from those expressed or implied by such forward looking information. Such risks and uncertainties relate to the ability of the Company to obtain the final approval of the Toronto Stock Exchange. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law.