On March 31, 2026, Red Canyon Resources Ltd. closed the transaction by closing its second and last tranche. The second tranche consists of 1,725,000 Units of the company at a price per Unit of CAD 0.20 for gross proceeds of CAD 345,000 and for aggregate gross proceeds for the transaction is CAD 2,492,000. The final tranche included an investment by returning investor Teck Resources Ltd., which maintained its 9.9% equity interest in Red Canyon on a partially diluted basis.
Cash finders' fees of CAD 12,250 and 61,250 finders' warrants exercisable at 30% common share for a 24-month term were paid on a portion of the final tranche. All securities issued in the final tranche are restricted from trading until August 1, 2026.
