Red Canyon Announces Non-Brokered Private Placements for Gross Proceeds of up to C$3,500,000
Executive Summary
- Red Canyon Resources proposes two concurrent non‑brokered private placements to raise up to $3.5 million in gross proceeds.
- The “LIFE Offering” seeks up to $2 million by selling up to 10,000,000 common shares at $0.20 per share, with immediate tradeability.
- The “Concurrent Offering” targets up to $1.5 million through the sale of up to 7,500,000 units (each unit = 1 common share + ½ warrant) at $0.20 per unit; warrants allow purchase of common shares at C$0.30 within 24 months and are subject to a four‑month hold period.
Key Details
- Offering Structure – LIFE Offering
- Up to 10,000,000 common shares (“LIFE Shares”)
- Price: $0.20 per share (CAD equivalent)
- Gross proceeds target: $2,000,000
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Shares will be immediately freely tradeable upon issuance for Canadian residents; U.S. and other investors to receive securities via applicable exemptions.
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Offering Structure – Concurrent Offering
- Up to 7,500,000 units (each unit = 1 common share + ½ warrant)
- Price: $0.20 per unit
- Gross proceeds target: $1,500,000
- Warrants grant the right to purchase one common share at C$0.30 any time up to 24 months after closing.
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Units subject to a statutory hold period of four months and one day.
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Use of Proceeds
- Exploration and advancement of copper and copper‑gold projects in British Columbia and the Western United States.
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Working capital and general corporate purposes.
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Closing Timeline
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Expected closing date: on or about March 20, 2026, subject to regulatory approvals (including CSE acceptance) and other customary conditions.
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Regulatory & Compliance
- LIFE Shares offered under the Listed Issuer Financing Exemption (NI 45‑106).
- Concurrent Offering units issued under NI 45‑106 with statutory hold period compliance.
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Offerings exempt from registration under U.S. securities laws; sales to U.S. persons only via applicable exemptions.
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Related Party Participation
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Directors and officers may acquire securities as a “related party transaction” exempt from formal valuation and minority shareholder approval requirements under MI 61‑101.
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Finder’s Fees
- May be paid in accordance with CSE policies.
Notable Quotes
- “These offerings provide us with the capital needed to advance our high‑potential copper projects while maintaining flexibility for future growth,” – Wendell Zerb, Chairman and CEO.