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Red Metal Resources Announces Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 16, 2023) - Red Metal Resources Ltd. (CSE: RMES) ("Red Metal" or the "Company") is pleased to announce its
About this update from Red Metal Resources Ltd.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 16, 2023) - Red Metal Resources Ltd. (CSE: RMES) (\"Red Metal\" or the \"Company\") is pleased to announce its intention to complete a non-brokered private placement (the \"Offering\") of up to 10,000,000 units (the \"Units\") at a price of CDN$0.05 per Unit for gross proceeds of up to CDN$500,000. Each Unit will consist of one Common share in the capital of the Company (a \"Share\") and one whole non-transferable Common share purchase warrant (a \"Warrant\"). Each whole Warrant will be exercisable to acquire one Share at an exercise price of CDN$0.12 per Share for a period of 12 months from the date of issuance and at an exercise price of CDN$0.20 per share for the period 12 to 24 months from the date of issuance. The Offering is available to investors in reliance on exemptions from the prospectus requirement set out in National Instrument 45-106 Prospectus Exemptions and to existing shareholders of the Company and to investors who have received investment advice and to existing shareholders of the Company and to investors who have received investment advice in reliance on BC Instrument 45-534 Exemption from prospectus requirement for certain trades to existing security holders and the corresponding blanket orders and rules in the other Canadian jurisdictions (collectively, the \"Existing Security Holder Exemption\") and BC Instrument 45-536 Exemption from prospectus requirement for certain distributions through an investment dealer and the corresponding blanket orders and rules in the other Canadian jurisdictions that have adopted the same or a similar exemption from the prospectus requirement (collectively, the \"Investment Dealer Exemption\"). The Existing Security Holder Exemption is available in each of the provinces and territories of Canada to a person or company who became a shareholder of the Company on or before March 15, 2023 and continues to be a shareholder of the Company, subject to a maximum investment of CDN$15,000 using the Existing Security Holder Exemption in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment from a person registered as an investment dealer in the shareholder's jurisdiction. The Investment Dealer Exemption is available in each of Alberta, British Columbia, Saskatchewan, M...