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Red Canyon Resources (OTCQB: REDRF) has successfully completed an over-subscribed non-brokered charity flow-through private placement, raising $2.32 million through the issuance of 8,525,295 shares at $0.272 per share.
Notable highlights include Teck Resources Limited acquiring a 9.9% equity stake for $1.71 million as a new strategic investor, while existing major shareholder Crescat Capital maintained its ownership position. The flow-through shares qualify for both federal and British Columbia tax credits, with proceeds earmarked for Canadian exploration expenses at the company's Kendal project and other BC properties.
The offering includes an Investor Rights Agreement with Teck, granting them future participation rights to maintain their proportionate ownership. All issued securities are restricted from trading until January 19, 2026.
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