Redtail Announces Appointment of William M. Sheriff as Interim CEO
TSX-V: RTZ
www.redtailmetals.com
VANCOUVER, Oct. 23, 2012 /CNW/ - Redtail Metals Corp.
(TSX-V: RTZ) (the "Company") is pleased to announce that
it has appointed William M. Sheriff
as Director and Interim Chief Executive Officer of the Company.
Mr. William M.
Sheriff
An entrepreneur and visionary with over 30 years mineral
exploration experience, Mr. Sheriff leads Golden Predator Corp.'s
restart operations at the Brewery Creek Project, a past producing
gold heap leach mine located in the Yukon. Mr. Sheriff, a pioneer in the
uranium renaissance as co-founder and Chairman of Energy Metals
Corp; was responsible for compiling the largest domestic uranium
resource base in US history. Mr. Sheriff presently serves as
Chairman & CEO of Golden Predator, Chairman of Silver Predator
Corp. and Tigris Uranium Corp., and is a Director of Western
Lithium USA Corporation. Mr.
Sheriff owns one of the largest privately held mining databases in
the world.
Shares for Debt
The Company also announces that it has closed the shares for debt
settlement transaction announced September
27, 2012. The Company has issued 4,800,000 common
shares at a deemed price of $0.10 per
share in satisfaction of approximately $480,000 of outstanding indebtedness owed to one
creditor. The common shares are subject to a hold period expiring
February 23, 2013. As a result
of this transaction, Predator Mining Group Inc., a wholly-owned
subsidiary of Golden Predator Corp., became a new insider of the
Company, holding 14.37% of the issued and outstanding shares.
Private Placement
The Company announces an amendment to the disclosure on a
non-brokered private placement contained in its announcement of
September 27, 2012. On closing,
a total of 10,250,000 units were issued at a price of $0.10 per unit for gross proceeds to the Company
of $1,025,000. Each unit
consists of one common share and one half of one non-transferable
share purchase warrant, each full warrant entitling the holder to
acquire an additional common share at a price of $0.15 until September
27th, 2013. The proceeds from the private
placement will be used for expenditures under the R15 agreements,
exploration of the Company's mineral properties, the final payment
for the Company's Marg Property, and for general working capital
purposes.
About Redtail Metals Corp.
Redtail Metals specializes in identifying, acquiring and developing
quality precious metal enriched copper, lead and zinc mineral
deposits in Yukon, Canada.
The Company currently controls the R15 Project in the Finlayson
Lake District plus the Marg and Clear
Lake massive sulfide deposits, both with 43-101 compliant
mineral resources. Redtail Metals, a member of the Predator
Group of Companies, has a committed management team with extensive
experience in the Yukon.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein. This press release contains
projections and forward-looking information that involve various
risks and uncertainties regarding future events. Such
forward-looking information can include without limitation
statements based on current expectations involving a number of
risks and uncertainties and are not guarantees of future
performance. There are numerous risks and uncertainties that could
cause actual results and Redtail Metals' plans and objectives to
differ materially from those expressed in the forward-looking
information. Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and are expressly qualified in their entirety by this notice.
Except as required by law, Redtail Metals' assumes no obligation to
update forward-looking information should circumstances or
management's estimates or opinions change.
SOURCE Redtail Metals Corp.