Red Tiger Announces Non-Brokered Private Placement

TORONTO, April 8, 2013 /CNW/ - Red Tiger Mining Inc., (TSXV-RMN), (the "Company") announces that it intends to carry out, subject to the approval of the TSX Venture Exchange (the "TSXV"), a non-brokered private placement to, among other investors, insiders of the Company ("Insiders") for gross proceeds of up to CAD$1,500,000 (the "Private Placement") consisting of common shares of the Company (each, a "Share") at a price of CAD$0.10 per Share. The proceeds will be used by the Company for required capital expenditures and working capital at the Luz del Cobre mine, which is owned by the Company's wholly-owned subsidiary, Minerales Libertad, S.A. de C.V.

No commission or finder's fee will be paid in connection with the Private Placement. Of the gross proceeds, approximately CAD$1,000,000 is expected to be subscribed for by the Insiders, with the balance reserved for non-Insiders. Non-insiders interested in participating are urged to contact the Company. The Shares will be offered pursuant to exemptions from prospectus requirements of applicable securities legislation and will be subject to a hold period of four months and a day from their date of issuance.

As Insiders will participate in the Private Placement, any such subscriptions will be considered to be related party transactions within the meaning of TSXV Policy 5.9 which incorporates Multilateral Instrument 61-101 ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such Insider participation.

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.   

This news release contains forward-looking statements, which are subject to risks and uncertainties and other factors that may cause the Company's results to differ materially from expectations. Specifically, this news release contains forward-looking information regarding the carrying out of the Private Placement and the expected terms relating thereto, the participation in the Private Placement by Insiders, the availability of, and the Company's reliance upon, certain exemptions from applicable securities law and/or TSXV requirements, and the approval of the Private Placement by the TSXV. Accordingly, readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this news release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

SOURCE Red Tiger Mining Inc.