Red Canyon Resources Completes $745,000 Flow-Through Private Placement
Vancouver, British Columbia — October 26, 2026 — Leads & Copy — Red Canyon Resources Ltd. has successfully closed a non-brokered flow-through private placement, raising gross proceeds of $745,000. The offering involved the issuance of 3,725,000 flow-through units at $0.20 per unit.
Each unit comprises one flow-through common share and half of a common share purchase warrant. These warrants are exercisable into one common share at $0.30 each, with an 18-month term. The flow-through shares are designated as such under Canada’s Income Tax Act, while shares issued upon warrant exercise will not carry this designation.
Proceeds from the private placement are designated for eligible Canadian exploration expenses that qualify as “flow-through critical mineral mining expenditures.” These expenditures will be incurred at the Company’s Kendal and Osiris projects, along with other eligible British Columbia projects, by December 31, 2027. Red Canyon plans to renounce these qualifying expenditures in favor of the subscribers of the flow-through shares, effective December 31, 2026.
The critical mineral mining expenditures are eligible for a federal 30% investment tax credit for eligible individual investors. Additionally, individual investors resident in or subject to tax in British Columbia may be eligible for a 20% additional tax credit under the provincial Income Tax Act.
All securities issued are subject to a trading restriction until February 27, 2027. The Company also reported cash finder’s fees of $24,025 were paid on a portion of the offering.
Management and insiders of Red Canyon Resources participated in the offering, purchasing a total of 937,500 flow-through units. This participation is considered a “related party transaction” under Multilateral Instrument 61-101. The Company is leveraging exemptions from formal valuation and minority shareholder approval requirements, citing that the fair market value of related party participation is less than 25% of the Company’s current market capitalization.
Red Canyon Resources is a mineral exploration company focused on copper jurisdictions in North America, with a portfolio of 100%-owned copper and copper-gold porphyry exploration projects. Its Kendal copper project in west-central British Columbia is a priority, with recent exploration programs including vectoring studies, geochemical surveys, and a 3DIP geophysical survey completed. The Osiris project in central British Columbia has identified new high-priority areas, with initial diamond drilling underway at several Nautilus area targets.
The Company’s technical team comprises experienced geoscientists with backgrounds in capital markets and major mining companies. Red Canyon Resources is part of the NewQuest Capital group, an investment company focused on incubating and financing mineral projects and companies.
Source: Red Canyon Resources Ltd.
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