(Expressed in US dollars except where noted as C$)
TORONTO, Oct. 1, 2013 /CNW/ - Red Tiger Mining Inc., (TSXV: RMN), (the "Company" or "Red Tiger") today announces that it has issued 692,441 common shares to Gerald Metals SA.
As previously announced on April 2, 2012, the Company's wholly-owned subsidiary, Minerales Libertad, S.A. de C.V., entered into a debt financing agreement with Gerald Metals for $3,500,000. The debt bears an annual interest rate of 15% payable in cash, plus an interest premium payable in common shares of the Company. The interest premium is 3% per annum on principal outstanding between November 30, 2012 and February 28, 2013. Thereafter, the interest premium is 10% per annum. The interest premium is capped at a maximum of 692,441 common shares of the Company, which has been issued today.
Red Tiger is listed on the TSX Venture Exchange (symbol "RMN"). After the issuance of these shares, the number of shares outstanding is 101,318,776.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Red Tiger Mining Inc.
For further information:
Dr. Thomas Utter
President and CEO
Tel.: +1 52 662 311 8839
CFO and Secretary
Tel.: 416-637-1517 x 107