July 27 (Reuters) - Redbank Ltd :
* WILL BE UNDERTAKING PRO-RATA NON-RENOUNCEABLE RIGHTS ISSUE OF 81.6 MILLION SHARES AT $0.025 PER SHARE
* PROCEEDS OF OFFER WILL PRIMARILY BE USED TO ADVANCE REDBANK COPPER PROJECT
* PROCEEDS OF OFFER WILL BE USED TO ADVANCE REDBANK COPPER PROJECT