Red Metal Resources arranges $750,000 financing

Executive Summary

• Red Metal Resources Ltd. has arranged a non-brokered private placement offering for gross proceeds of up to $750,000.
• The company intends to issue up to 12.5 million units at a price of $0.06 per unit, with proceeds designated for general working capital and exploration at its Carrizal copper property in Chile.
• Each unit includes one common share and one common share purchase warrant, with exercise prices ranging from $0.09 to $0.15 over a three-year period.

Key Details

• Transaction Type: Non-brokered private placement offering.
• Gross Proceeds: Up to $750,000.
• Units Issued: Up to 12.5 million units.
• Price Per Unit: $0.06.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms:
  • Each warrant entitles the holder to purchase one additional common share.
  • Exercise Price Year 1: $0.09 per share.
  • Exercise Price Year 2: $0.12 per share.
  • Exercise Price Year 3: $0.15 per share.
  • Warrant Expiration: Three years following the close of the financing.
• Use of Proceeds: Financing general working capital requirements and exploration on the Carrizal copper property in Chile.
• Hold Period: All securities are subject to a four-month-and-one-day hold period under Canadian securities laws.

Notable Quotes

• Caitlin Jeffs, Chief Executive Officer: "With a pro-business and mining government in Chile and with copper reaching record prices, we believe now is the time to focus on our Chile copper project. We intend to use the funds to advance exploration on Carrizal and for general working capital."