Red Moon Potash Inc. To Trade On TSX Venture Exchange
RED MOON POTASH INC. ("RMK")
BULLETIN TYPE: New Listing-Shares
BULLETIN DATE: August 16, 2012
TSX Venture Tier 2 Company
Effective at opening, on Friday, August 17, 2012 the common shares of Red Moon Potash Inc. (Red Moon or the Company) will be listed for trading on TSX Venture Exchange. The Company is classified as a 'mining' company.
Pursuant to a Plan of Arrangement (the Arrangement), as reflected in an Arrangement Agreement dated July 15, 2011, as amended November 30, 2011, and entered into between Vulcan Minerals Inc. (Vulcan), an Exchange listed issuer, and Red Moon, Vulcan will "spin-out" to the Company, Vulcan's 100% interest in the mineral rights in the Bay St. George basin of western Newfoundland (the "Property") where Vulcan currently holds potash and salt deposits. Vulcan will retain a 3% net production royalty.
Consideration for the Property consists of the issuance of 20,499,999 common shares of Red Moon (the Red Moon Shares) to Vulcan at a deemed price of $0.05 per share for deemed consideration of $1,025,000, with 15,000,000 of the Red Moon Shares to be distributed to Vulcan shareholders as a return of capital, such that Vulcan will retain 5,499,999 of these shares.
In conjunction with the Arrangement, Vulcan will subscribe for an aggregate of 15,000,000 Red Moon Shares at a price of $0.05 per share for an aggregate acquisition cost of $750,000.
The Exchange has been advised that the Arrangement, approved by shareholders on August 31, 2011 and reapproved by shareholders on July 25, 2012, has been < completed.
Corporate Jurisdiction: Alberta
Capitalization: Unlimited common shares with no par value of which 35,500,000 common shares are issued and outstanding
Escrowed Shares: 21,956,551 common shares are subject to a Tier 2 Value Escrow Agreement.
Transfer Agent: Computershare Trust Company of Canada
Trading Symbol: RMK
CUSIP Number: 75678U 10 6
For further information, please refer to Vulcan's Management Information Circular dated June 25, 2012, and the Listing Application of Red Moon dated August 15, 2012, all as filed on SEDAR.
333 Duckworth Street
St. John's NL A1C 1G9
Company Phone Number: (709) 754-3186
Company Fax Number: (709) 754-3946