Red Canyon Resources Announces Closing of First Tranche of Private Placement
Vancouver, British Columbia – April 7, 2025 – Red Canyon Resources Ltd. (“Red Canyon” or the “Company”) is thrilled to announce the successful completion of the first tranche of its non-brokered private placement. The Company issued a total of 9,377,750 Units at a price of $0.16 per Unit, generating gross proceeds of $1,500,440.
Details of the Private Placement
Each Unit consists of one common share and one-half of a share purchase warrant. The warrant enables the holders to purchase an additional common share at a price of $0.24 for a 24-month term from the closing date of the Offering.
Use of Proceeds
The net proceeds from the Offering will be allocated towards the Company’s ongoing exploration and development activities, as well as general working capital and corporate purposes.
Impact on Red Canyon
This private placement marks a significant milestone for Red Canyon as it continues to advance its exploration projects. With the additional funds, the Company can accelerate its exploration programs, increase its drilling activities, and potentially expand its land holdings. This injection of capital also strengthens Red Canyon’s financial position, providing it with the flexibility to capitalize on new opportunities as they arise.
Impact on the World
Red Canyon’s successful private placement is a testament to the confidence investors have in the Company’s potential to create value through its exploration projects. This investment not only supports Red Canyon’s growth but also contributes to the broader mining industry by encouraging further exploration and development efforts. As Red Canyon progresses in its projects, it may lead to the discovery of new mineral resources and the creation of new jobs in the communities where it operates.
Conclusion
Red Canyon Resources’ first tranche closing of its non-brokered private placement represents a substantial step forward in the Company’s growth strategy. With the additional funds, Red Canyon can advance its exploration projects, strengthen its financial position, and continue to create value for its shareholders. Furthermore, this investment positively impacts the mining industry by fostering further exploration and development efforts, potentially leading to new discoveries and economic opportunities.
- Red Canyon Resources successfully closes first tranche of non-brokered private placement
- Gross proceeds total $1,500,440
- Each Unit consists of one common share and one-half of a share purchase warrant
- Proceeds to be allocated towards exploration and development activities, working capital, and corporate purposes
- Impact on Red Canyon: accelerated exploration programs, increased drilling activities, strengthened financial position
- Impact on the World: fosters further exploration and development efforts, potential for new mineral discoveries and economic opportunities
