Red Metal Resources Ltd. (RMES) Issues Update on Capital Market Transaction
Red Metal Resources Ltd. issued an update on the progress of a recent capital market transaction involving the private placement of equity in the company for a group of institutional investors. Red Metal Resources has received subscriptions to sell 6.72 million units at a price of $0.30 per unit, and the company will receive gross proceeds of approximately $2.01 million. The company indicated that some members of the management team of Red Metal Resources Ltd. participated in the offering. Each unit sold comprises one share of the common stock of Red Metal Resources Ltd., and one warrant to purchase common…