Big Red Mining announces financing for Soo-area project
Big Red Mining Corp. announces a private placement financing of up to 7,500,000 units of the company at a price of C$0.02 per Unit for gross proceeds to the company of up to C$150,000. Each Unit will consist of one common share in the capital of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of C$0.05 for a period of 12 months from the issuance thereof.
The net proceeds received from the Offering will be used by the Company for exploration and development activities.
About Big Red Mining Corp.
Big Red holds an option to acquire a 100% interest in the Dobie Lake Copper Project (the "Property") in Ontario, Canada. The Property is Located approximately 100 km from Sault Ste Marie, Ontario. The Property surrounds and covers Extensions of the Past producing Jentina Mine. The Property comprises 131 claims totaling 6,500 Acres (26 Square kilometers). Big Red's management team possess extensive experience in financing, exploration, development and mining. Big Red's mission is to conduct future drilling campaigns on the Dobie Lake copper property to maximize its minable resource potential.
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