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VANCOUVER, BC / ACCESSWIRE / September 4, 2019 / Red Lake Gold Inc. (CSE:RGLD)(FWB:P11)(“Red Lake Gold” or the "Corporation") is pleased to report that it has today closed its previously announced non-brokered private placement through the issuance of 2,000,000 common shares on the terms previously announced (see news release dated August 22, 2019, Red Lake Gold Inc. Announces Common Share Financing).
Red Lake Gold also advises that further to prospective insider participation notice contained in its news release dated August 22, 2019, the 25% insider allocation was fully taken-up by the Chief Executive Officer of the Corporation who in turn subscribed for 500,000 common shares of the 2,000,000 common shares offered in the non-brokered private placement.
Subsequent to the non-brokered private placement, the Corporation now has 27,391,251 shares outstanding.
The Corporation paid finders fees of $7,500 to PI Financial Corp. and $3,000 to Leede Jones Gable Inc.
No finders fees were paid in association with insider participation in the non-brokered private placement.
The common shares are subject to a four-month hold period pursuant to applicable securities laws of Canada.
On Behalf of the Board of Directors
Chairman & Chief Executive Officer
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.
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