|By Marketwired .||
|June 2, 2014 11:07 AM EDT||
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 06/02/14 -- Red Moon Potash Inc. ("the Company" - "Red Moon") (TSX VENTURE: RMK) and Vulcan Minerals Inc. ("Vulcan") (TSX VENTURE: VUL) announce that Red Moon has closed its non-brokered private placement of 5,000,000 units (the "Units") at $0.10 per Unit to Vulcan, a related party, for proceeds of $500,000 which will be used to fund the Company's mineral exploration activities in western Newfoundland and general working capital. The TSX Venture Exchange has approved the financing. The shares will have a four month hold period as per applicable securities law. Vulcan now owns 65.12% of the outstanding common shares of Red Moon or 67.03% if the warrants are exercised (without further dilution).
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors beyond the Company's control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.