Business
Redzone Resources Appoints Cameron Bell to Board of Directors; Announces C$1 Million Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 4, 2017) - Redzone Resources Inc. (TSX VENTURE:REZ)(OTC:REZZF) ("the Company" or "Redzone") is pleased to provi
About this update from Global Battery Metals Ltd.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 4, 2017) - Redzone Resources Inc. (TSX VENTURE:REZ)(OTC:REZZF) (\"the Company\" or \"Redzone\") is pleased to provide the following corporate update and announce a private placement as follows: Board of Directors Appointment The Company is pleased to announce the appointment of Cameron Bell to its Board of Directors. Cameron Bell, M.Sc., P. Geo, has over 30 years' experience working as a geologist and exploration manager. He was a Regional Exploration Manager for Vale from 2007 to 2016, with periods as North American Manager and Australasia Manager. Prior to that, he worked with Inco Technical Services where he was responsible for project generation and managing their grass roots nickel exploration in North America. Additionally, he held the role of Senior Geologist at Voisey's Bay and Sudbury. Michael Murphy commented \"We are delighted that Mr. Bell has accepted our offer to join the board of Redzone Resources. Mr. Bell brings extensive exploration experience in both the managing of exploration programs and the sourcing of new projects to the Company and we look forward to his input as we explore the Fortner and Boyd Lithium property and look for additional opportunities in the future.\" Private Placement The Company intends to complete a non-brokered private placement of up to 6,250,000 units (the \"Units\") at a price of $0.16 per Unit for gross proceeds of up to $1,000,000 (the \"Private Placement\"). Each Unit will consist of one Common Share and one half of one Common Share purchase warrant exercisable at $0.24 for a period of 24 months from the date of issuance. The Company will have the option to force the conversion of the Warrants should the closing price at which the Common Shares trade equal or exceed $0.40 for 20 consecutive trading days following the date that is four months and one day after the date of issuance of the Warrants, to the date which is 30 days following the date a news release is issued by the Company announcing the reduced term of the Warrants. Any Warrants not exercised on or before such 30th business day will expire and will no longer be exercisable to acquire Common Shares. Finders' fees may be paid by the Company in conjunction with the completion of the Private Placement in accordance with applicable laws and stock exchange policies. Michae...