(TheNewswire)
Vancouver, British Columbia – TheNewswire - December 13, 2023 – Red Lake GoldInc. (CSE:RGLD) (“ Red LakeGold ” or the " Corporation ") reports that it intends to conduct anon-brokered common share unit financing (the "Common Share UnitFinancing") consisting of up to 1,000,000 common share units (the“Units”) to be issued at a price of $0.05 per Unit.
Each Unit will consist of one common share of the Corporation (a"Unit Share") and one common share purchase warrant (a“Warrant”) that entitles the holder of a Warrant, upon furtherpayment to the Corporation, to acquire one additional common share ofthe Corporation (a "Warrant Share") at an exercise price of$0.06 per Warrant Share on any date prior to the date which is 36months following the closing date of the Common Share Unit Financingor tranche thereunder.
Red Lake Gold intends to use the proceeds of the Common Share UnitFinancing for general working capital and corporate purposes,including, without limitation, office, accounting, legal, regulatory,advisory, stock exchange, managerial and/or other expenses, fees andcosts incurred in the course of the Corporation maintaining oradvancing its business.
In an effort to support the working capital position of the Company,Insiders (as that term is defined by securities laws) of Red Lake Goldmay participate for greater than 25% of the Common Share UnitFinancing.
The Corporation may pay a 6% cash finders fee on certain subscriptionsunder the Common Share Financing, which excludes cash finders fees onany subscriptions by Insiders (as that term is defined by securitieslaws).
The Common Share Unit Financing is subject to all applicableregulatory approvals and the customary four-month hold period pursuantto applicable securities laws of Canada.
On Behalf of the Board ofDirectors
Chairman & Chief Executive Officer
T: 604.687.2038
Email: info@redlakegold.ca
Forward-Looking Statements
This news release contains forward-looking statements. Forward-lookingstatements address future events and conditions and therefore involveinherent risks and uncertainties, including but not limited to thenumber of Units issued, if any, under the Common Share Unit Financingand the closing, if any, of the Common Share Unit Financing. Actualresults may differ materially from those currently expected orforecast in such statements.
Neither the CSE nor its RegulationServices Provider (as that term is defined in the policies of the CSEExchange) accepts responsibility for the adequacy or accuracy of thisrelease.
Copyright (c) 2023 TheNewswire - All rights reserved.