Red Metal Resources Announces Upsized Financing

Executive Summary

• Red Metal Resources increased its previously announced non‑brokered private placement from C$750,000 to up to C$1,000,000.
• The offering will consist of up to 16,666,667 units at C$0.06 per unit, each unit containing one common share and one warrant.
• Proceeds are earmarked for general working capital and to advance exploration at the Carrizal copper project in Chile.

Key Details

• Offering Size: Up to C$1,000,000 (gross proceeds).
• Units Offered: Up to 16,666,667 units at C$0.06 per unit.
• Unit Composition: 1 common share + 1 common‑share purchase warrant.
• Warrant Exercise Prices:
• C$0.09 per share for the first 12 months after issuance.
• C$0.12 per share for months 12–24 after issuance.
• C$0.15 per share for months 24–36 after issuance.
• Use of Proceeds: General working capital and advancement of exploration activities at the Carrizal project (flagship Chilean copper asset).
• Finder’s Fees: May be paid, subject to regulatory and exchange approval.
• Holding Period: All securities issued will be subject to a four‑month hold period under Canadian securities law.
• CEO Comment: Caitlin Jeffs highlighted strong investor support, favorable Chilean mining policy environment, record copper prices, and the ability of the increased financing to accelerate exploration at Carrizal and support corporate initiatives.

Notable Quotes

“We are very encouraged by the strong support shown for this financing. With a pro‑business and mining‑focused government in Chile and copper reaching record prices, we believe it is the ideal time to accelerate work on our Chilean copper portfolio.” – Caitlin Jeffs, President & CEO