Red Canyon Closes Initial Phase of Private Placements

Core Viewpoint - Red Canyon Resources Ltd. has successfully closed the first tranche of two non-brokered private placements, raising a total of $2,147,000 for exploration and corporate purposes [1][2][3]. Group 1: Financing Details - The first tranche of the Unit Offering involved the issuance of 7,560,000 units at a price of $0.20 per unit, generating gross proceeds of $1,512,000 [1]. - The LIFE Offering resulted in the issuance of 3,175,000 common shares at the same price of $0.20 per share, raising gross proceeds of $635,000 [2]. - The total gross proceeds from both offerings amount to $2,147,000, with the final close anticipated by March 31, 2026 [2]. Group 2: Use of Proceeds - The net proceeds from the offerings will be allocated towards the exploration and advancement of the company's copper and copper/gold projects in British Columbia and the Western United States, as well as for working capital and general corporate purposes [3]. Group 3: Insider Participation - Insiders purchased a total of 390,000 units in the Unit Offering, which is classified as a "related party transaction" under Multilateral Instrument 61-101 [5]. - The company is exempt from obtaining a formal valuation and minority shareholder approval for this transaction, as the participation by related parties is less than 25% of the company's current market capitalization [5]. Group 4: Regulatory Compliance - The LIFE Shares were offered under the listed issuer financing exemption, and the common shares issued are not subject to a hold period under Canadian securities laws [4]. - Other securities issued are restricted from trading until July 26, 2026 [4]. Group 5: Marketing Initiatives - Red Canyon has engaged Market One Media Group Inc. for marketing and social media activities to support its business initiatives, with activities set to commence on April 1, 2026 [7][8]. - Market One will receive a total compensation of $50,000 for its services, excluding options to purchase securities of the issuer [9].