Red Canyon Resources arranges $2-million financing

Feb 24, 2025

2025-02-24 09:50 ET – News Release

Mr. Wendell Zerb reports

RED CANYON ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Red Canyon Resources Ltd. has arranged a non-brokered private placement to raise gross proceeds of up to $2-million through the sale of up to 12.5 million units of the company at a price of 16 cents per unit. Each unit consists of one common share and one-half non-transferable share purchase warrant, with each whole warrant exercisable into one further common share at a price of 24 cents for a period of 24 months. All securities issued will be subject to a statutory hold period of four months and one day.

The proceeds from the offering will be used for exploration activities at the company’s British Columbia and Western United States projects, and for general working capital.

Finders’ fees may be paid in connection with the offering, in accordance with the policies of the Canadian Securities Exchange (CSE). The offering is subject to the approval of the CSE.

Directors and officers of the company may acquire securities under the offering, which will be considered a related party transaction, as defined under Multilateral Instrument 61-101. Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

About Red Canyon Resources Ltd.

Red Canyon Resources is a technically driven, discovery-focused mineral exploration company focused on exploring North America’s top copper jurisdictions. The company’s core goal is to make impactful copper discoveries to benefit all stakeholders. Red Canyon has a portfolio of 100-per-cent-owned copper and copper-gold porphyry exploration projects. The company’s priority copper projects include its Kendal copper-molybdenum project in west-central British Columbia and its Scraper Springs copper project in northeastern Nevada. The company’s technical team consists of experienced geoscientists with diverse capital markets, junior and major mining company backgrounds, and a record of success.

Red Canyon is part of NewQuest Capital Group, which is a discovery-driven investment group that builds value through the incubation and financing of mineral projects and companies.

Qualified person

The technical information contained in this update has been reviewed and approved by Wendell Zerb, PGeol, a qualified person, as defined in National Instrument 43-101 — Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.

https://www.redcanyonresources.com/