In addition, ZincOx has invested $125,000 in Redhawk by subscribing to a private placement of 357,000 shares at a price of 35 each. In exchange for providing technical and metallurgical assistance at cost for the next four years, ZincOx will have the right to purchase a further 600,000 shares at 35 in the first two years and at 50 for the following two years. ZincOx now owns a 24.3% stake in Redhawk.
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