Red Metal Resources Announces Financing

Executive Summary

• Red Metal Resources Ltd. announced a non‑brokered private placement to raise up to C$750,000 by issuing up to 12.5 million units at $0.06 per unit.
• Each unit consists of one common share and one warrant allowing the purchase of an additional share at staged prices ($0.09, $0.12, $0.15) over three years.
• Proceeds will be used for general working capital and to advance exploration on the Carrizal copper project in Chile.

Key Details

• Offering Size: Up to C$750,000 gross proceeds.
• Units Offered: Up to 12,500,000 units at $0.06 per unit.
• Unit Composition: 1 common share + 1 Common Share purchase warrant.
• Warrant Terms: Right to buy one additional share for three years post‑closing at $0.09 (Year 1), $0.12 (Year 2), $0.15 (Year 3).
• Use of Proceeds: General working capital and exploration activities on the Carrizal property, Red Metal’s flagship Chilean copper project.
• Holding Period: Securities subject to a four‑month‑and‑one‑day hold period under Canadian securities laws.
• CEO Statement: “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…”.

Notable Quotes

“We intend to use the funds to advance exploration on Carrizal and for general working capital.” – Caitlin Jeffs, President & CEO

Materiality Assessment: Material – Positive (significant financing that supports ongoing operations and growth initiatives).