Red Eagle Mining Corporation (TSX-V:RD) (OTCQX:RDEMF) has completed its previously announced financing with Orion Mine Finance of a private placement of 14,640,112 common shares at CAD $0.33 per Share for proceeds of US $3,807,421 which increases Orion’s stake in Red Eagle Mining to 19.99%. The Shares are subject to a four month hold period from the date of issuance. Red Eagle Mining has also completed the closing of the secured US $60,000,000 credit facility with Orion.
About Red Eagle Mining
Red Eagle Mining is a well-financed gold exploration and development company with an experienced mine-development team. Management is focused on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining is developing the 100 km² historic Santa Rosa Gold Project located in the Antioquia Batholith. Development will initially commence with the fully permitted San Ramon Gold Mine where a positive Feasibility Study supports project development. Construction is scheduled to commence by mid-2015 with production in 2016.
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