Red Lake Gold Inc. has proposed a non-brokered private placement to raise gross proceeds of up to $375,000 through the issuance of up to 5,000,000 common shares priced at $0.075 each.

The offering, which may close in one or multiple tranches, is subject to customary conditions, including receipt of all necessary regulatory permissions and acceptance by the Canadian Securities Exchange. All common shares issued underфель the placement will carry a statutory hold period of four months and one day from their respective closing dates. Finder's fees may also be paid in accordance with exchange policies and applicable securities laws.

Net proceeds from the financing are earmarked to support general working capital, satisfy ongoing corporate obligations, and fund exploration work across the company's mineral properties.

Company insiders are permitted to participate in the placement for up to 25 percent of the total offering. While that level of participation constitutes a related party transaction under Multilateral Instrument 61-101, the company intends to rely on standard exemptions from formal valuation and minority shareholder approval requirements because the fair market value of the shares issued to insiders and their corresponding consideration will not exceed 25 percent of the company's market capitalization.

Alongside its core focus on the Whirlwind Jack project, Red Lake Gold maintains a broader portfolio of exploration properties that includes the Moray East Gold and SaskGold projects in Ontario.

Read the full announcement: Red Lake Gold Inc. Announces Private Placement