Business
Red Metal Resources Closes First Tranche of Financing
Vancouver, British Columbia--(Newsfile Corp. - January 22, 2026) - RED METAL RESOURCES LTD. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") announces that it has closed the first tranche of its previously announced non-brokered private placement financing (the "Offering") (see news releases dated January 7, 2026, and January 19, 2026) by issuing 9,125,000 units of the Company (the "Units") at a price of $0.06 per Unit for gross proceeds of $547,500 (the "First Tranche").
About this update from Red Metal Resources Ltd.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - January 22, 2026) - RED METAL RESOURCES LTD. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") announces that it has closed the first tranche of its previously announced non-brokered private placement financing (the "Offering") (see news releases dated January 7, 2026, and January 19, 2026) by issuing 9,125,000 units of the Company (the "Units") at a price of $0.06 per Unit for gross proceeds of $547,500 (the "First Tranche").","length":565,"tagName":"p"},{"type":"text","content":"Caitlin Jeffs, President & CEO, commented: "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."","length":400,"tagName":"p"},{"type":"text","content":"Each Unit is comprised of one common share of the Company (a "Share") and one Share purchase warrant (a "Warrant"), with each Warrant exercisable to acquire one additional Share at a price of $0.09 for the first 12 months from the date of issuance, $0.12 for the 12-24 month period from issuance, and $0.15 for the 24-36 month period from issuance.","length":368,"tagName":"p"},{"type":"text","content":"The securities issued under the First Tranche are subject to a statutory four month hold from the date of issuance. In connection with the First Tranche, the Company paid $1,260 in cash finder's fees and issued 21,000 finder's warrants. Each finder's warrant entitles the holder to purchase one Share of the Company at a price of $0.06 per Share for a period of two years from the date of issuance.","length":410,"tagName":"p"},{"type":"text","content":"The proceeds from the First Tranche will be used for general working capital purposes and to advance exploration on the Company's Carrizal copper project in Chile.","length":167,"tagName":"p"},{"type":"text","content":"MI 61-101 Disclosure","length":20,"tagName":"p"},{"type":"text","content":"Two insiders participated in the First Tranche for aggregate proceeds of $300,000. Each insider's par...