Mr. Ryan Kalt reports
RED LAKE GOLD INC. CLOSES FINANCING
Red Lake Gold Inc. has closed its previously announced non-brokered private placement by way of the issuance of 2.5 million common share units on the terms previously announced (see news release dated June 26, 2020, "Red Lake Gold announces financing") raising gross proceeds of $750,000.
Each unit consisted of one common share and one-half of a common share purchase warrant exercisable at 45 cents per common share for a period of 24 months from the date of closing.
The corporation paid non-cash finders' fees on subscriptions under the financing equal to 6 per cent, delivered by way of 150,000 common share units having the same terms as the financing.
Subsequent to the financing, Red Lake Gold has 31,837,501 common shares issued and outstanding.
Common shares issued in the financing are subject to a four-month hold period in accordance with applicable securities laws.
We seek Safe Harbor.
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