Red Metal Resources Closes Second and Final Tranche of Financing

Executive Summary

• Red Metal Resources closed the second and final tranche of its non‑brokered private placement, issuing 7,496,633 units at $0.06 per unit for gross proceeds of $449,798.
• Combined with the first tranche, total financing from the offering amounts to $997,298, which will be used for general working capital and to advance exploration on the Carrizal copper project in Chile.
• The units include common shares and warrants; additional finder's warrants were issued, and a $20,000 investor‑awareness advertising campaign with INN was launched.

Key Details

• Units Issued – Second Tranche: 7,496,633 units at $0.06 per unit → Gross proceeds: $449,798.
• First Tranche Summary: 9,125,000 units sold for $547,500; Aggregate gross proceeds of the offering: $997,298.
• Unit Composition: 1 common share + 1 warrant per unit. Warrants exercisable at $0.09 (first 12 mo), $0.12 (12‑24 mo) and $0.15 (24‑36 mo).
• Statutory Hold Period: Securities from the second tranche subject to a four‑month hold.
• Finder’s Fees & Warrants: $18,480 paid in cash finder’s fees; 308,000 finder's warrants issued (exercise price $0.06 per share, two‑year term).
• Insider Participation: Two insiders purchased units for total proceeds of $58,600; transactions relied on MI 61‑101 exemptions (≤25 % market cap).
• Use of Proceeds: General working capital and exploration activities at the Carrizal copper project in Chile.
• Investor Awareness Campaign: 12‑month advertising agreement with Dig Media Inc. dba Investing News Network (INN); cost $20,000; no securities issued as compensation.

Notable Quotes

“We are very pleased with the strong support shown in this first tranche. The participation from both new and existing shareholders, including our insiders, reflects continued confidence in Red Metal's strategy and the potential of our projects in Chile. This funding strengthens our position as we advance our exploration plans for 2026.” – Caitlin Jeffs, President & CEO