Announcement • Aug 03
Red Lake Gold Inc., Annual General Meeting, Sep 21, 2026 Red Lake Gold Inc., Annual General Meeting, Sep 21, 2026. Location: british columbia, vancouver Canada Announcement • Jul 22
Red Lake Gold Inc. announced that it expects to receive CAD 0.125 million in funding Red Lake Gold Inc. announced a non brokered placement to issue 2,500,000 units at an issue price of CAD 0.05 per unit for gross proceeds of CAD 125,000 on July 21, 2026. The Issuer proposes that if the Offering, or tranche(s) thereunder, is completed that each Unit would consist of one post-Consolidation common share and one post-Consolidation common share purchase warrant. Each Warrant would entitle the holder to acquire one additional post-Consolidation common share of the Corporation (each a “Warrant Share”) at the post-Consolidation exercise price of CAD 0.05 per Warrant Share for a period of sixty (60) months following the closing date of the Offering or the applicable tranche thereof. Completion of the proposed Offering would be subject to completion of the proposed Consolidation and receipt of all required regulatory approvals, including CSE approval(s). The proposed Consolidation would incur certain expenses upon the Issuer and so the Issuer seeks to secure funding in conjunction with said potential matter. The Corporation presently has 50,539,169 common shares issued and outstanding. The proposed Offering may be completed in one or more tranches. The Corporation may pay finder’s fees equal to 6% of the gross proceeds raised from certain subscribers, excluding any subscriptions by Insiders (as that term is defined by the policies of the CSE). Insiders of the Corporation may participate in the Offering, including for more than 25% of the Offering, in accordance with applicable securities laws. Any Securities that may be issued pursuant to the proposed Offering would be subject to a statutory hold period of four months and one day from any applicable closing date(s). New Risk • Jun 23
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$12k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$176k free cash flow). Share price has been highly volatile over the past 3 months (52% average weekly change). Negative equity (-CA$12k). Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$252.7k market cap, or US$178.5k). Minor Risk Significant insider selling over the past 3 months (CA$161k sold). New Risk • Apr 24
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$117k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$206k free cash flow). Share price has been highly volatile over the past 3 months (33% average weekly change). Earnings have declined by 46% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$758.1k market cap, or US$554.3k). Minor Risk Significant insider selling over the past 3 months (CA$117k sold). Announcement • Dec 05
Red Lake Gold Inc., Annual General Meeting, Jan 22, 2026 Red Lake Gold Inc., Annual General Meeting, Jan 22, 2026. Announcement • Oct 04
Red Lake Gold Inc. (CNSX:RGLD) acquired Moray East Gold Project located in Ontario, Canada. Red Lake Gold Inc. (CNSX:RGLD) acquired Moray East Gold Project located in Ontario, Canada on October 2, 2025.
Red Lake Gold Inc. (CNSX:RGLD) completed the acquisition of Moray East Gold Project located in Ontario, Canada on October 2, 2025. Board Change • Jul 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Brian Hearst was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jun 19
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$444k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$444k free cash flow). Shares are highly illiquid. Earnings have declined by 28% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$2.51m market cap, or US$1.83m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). Announcement • May 18
Red Lake Gold Inc. announced that it expects to receive CAD 0.15 million in funding Red Lake Gold Inc. announced a non-brokered private placement of up to 3,000,000 common shares for the gross proceeds of CAD 0.05 per unit for the gross proceeds of CAD 150,000 on May 16, 2025. Each unit shall consist of one common share of the issuer and one common share purchase warrant that entitles the holder of a warrant the right, upon further payment to company, to acquire one additional common share of the issuer at an exercise price of CAD 0.05 per warrant share on any date prior to the date that is 60 months following the closing date of the financing or tranche thereunder. The issuer may pay a 6% cash finder's fee on certain subscriptions under the financing, which excludes cash finders' fees on subscriptions by insiders who may in turn participate for greater than 25% of the financing. The financing will be subject to all applicable regulatory approvals and any securities issued under the financing will be subject to a four-month-and-one-day hold period pursuant to applicable securities laws of Canada. New Risk • May 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$545k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$545k free cash flow). Shares are highly illiquid. Earnings have declined by 5.9% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$3.01m market cap, or US$2.17m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). Board Change • May 07
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Brian Hearst was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Brian Hearst was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 07
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Brian Hearst was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 16
Red Lake Gold Inc. announced that it expects to receive CAD 0.12 million in funding Red Lake Gold Inc. announced a non-brokered financing of 2,000,000 units at issue price CAD 0.06 per unit for gross proceeds CAD 120,000 on January 15, 2025. Each unit shall consist of one common share of the issuer and one common share purchase warrant that entitles the holder of a warrant the right. The warrant to acquire one additional common share of the issuer at an exercise price of CAD 0.08 per warrant share on any date prior to the date which is 60 months following the closing date of the financing or tranche thereunder. The financing will be subject to all applicable regulatory approvals, and any securities issued under the financing will be subject to a four-month-and-one-day hold period, pursuant to applicable securities laws of Canada. The company pay a 6% cash finder's fee on certain subscriptions under the financing, which excludes cash finders' fees on subscriptions by insiders who may, in turn, participate for greater than 25 per cent of the financing. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (41% average weekly change). Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$4.02m market cap, or US$2.80m). Announcement • Nov 30
Red Lake Gold Inc. announced that it has received CAD 0.25 million in funding On November 29, 2024, Red Lake Gold Inc., closed the transaction. The transaction will include participation from Ryan Kalt. Announcement • Nov 05
Red Lake Gold Inc. announced that it expects to receive CAD 0.25 million in funding Red Lake Gold Inc announced a non-brokered private placement of 5,000,000 common share units at a price of CAD 0.05 per unit for gross proceeds of CAD 250,000 on November 4, 2024. Each unit shall consist of one common share and one common share purchase warrant that entitles the holder of a warrant, upon further payment to the corporation, to acquire one additional common share at an exercise price of CAD 0.05 per warrant share on any date prior to the date which is sixty months following the closing date of the financing or tranche thereunder. The corporation may pay a 6% cash finder’s fee on certain subscriptions under the financing, which excludes cash finder’s fees on subscriptions by insiders who may in turn participate for greater than 25% of the financing. If completed, either in part or in whole, the financing will be subject to all applicable regulatory approvals and a customary four-month and one day hold period on securities issued pursuant to applicable securities laws of Canada. Announcement • Oct 29
Red Lake Gold Inc., Annual General Meeting, Dec 20, 2024 Red Lake Gold Inc., Annual General Meeting, Dec 20, 2024. Announcement • Sep 11
Red Lake Gold Inc. Retains Fladgate Exploration Consulting Corporation for a Phase II Fall Soil Sampling Program at the Whirlwind Jack Gold Project Red Lake Gold Inc. announced that it has contracted Thunder Bay-based Fladgate Exploration Consulting Corporation (‘Fladgate’) to perform a follow-up field exploration program (the ‘Phase I Fall Soil Sampling Program’) at its Whirlwind Jack Gold Project (‘Whirlwind Jack’) located near Red Lake, Ontario. Based on its proprietary exploration work to-date, Red Lake Gold believes that its Whirlwind Jack Gold Project may host a westerly extension of a prominent regional fault, commonly referred to as the LP Fault, which has already been identified on a mining project that adjoins the Whirlwind Jack Gold Project (the Great Bear Project, being advanced by Kinross Gold Corporation). Red Lake Gold is seeking to determine if gold endowment also exists at its Whirlwind Jack Gold Project within the potential area of this interpreted westerly extension and now more specifical y, within priority areas of interest identified, in part, from exploration work done by the Corporation during 2024. To views held by Red Lake Gold, the Phase I Fall Soil Sampling Program is expected to more intensely focus within and close to a significant mag low corridor situated at the Whirlwind Jack Gold Project (compared to a broader project-wide soil sampling program completed earlier this year). As indicated, Red Lake Gold expects that the Phase I Fall Soil Sampling Program, which is scheduled to commence later this month, shall be fully funded using proceeds from the commission-free, non-brokered financing that the Corporation closed in September 2024. Red Lake Gold, through ongoing work by its management team, is engaged in the continuous process of prioritizing a core project area for the Whirlwind Jack Gold Project to forward-comprise and explore as capital access, field conditions and other relevant project and corporate-related material low. Red Lake Gold notes that both the Box Target and Bug Lake Target have been integrated within that currently identified core area. The Phase I Fall Soil Sampling Program will focus on collecting hundreds of infil samples in and around the more prominent results previously reported on at the Box Target and Bug Lake Target. Subject to successful completion, the Corporation currently anticipates receiving laboratory results for its Phase I Fall Soil Sampling Program approximately 6 to 7 weeks following completion of the in-field work. The Corporation shall endeavor to update shareholders on the results of the anticipated field program in the ordinary and appropriate course. The Corporation cautions that the exploration potential of and any exploration results from the Whirlwind Jack Gold Project may differ, material y, from exploration results of adjoining and/or regional projects, including but not limited to the adjacent Great Bear Project being advanced by Kinross Gold Corporation. Announcement • Sep 05
Red Lake Gold Inc. announced that it has received CAD 0.1925 million in funding On September 4, 2024. Red Lake Gold Inc. announces that it has closed its previously announced a non brokered financing of 3,500,000 common share units for issue price CAD 0.055 per share for gross proceeds CAD 192,500. The transaction includes participation from an individual investor, Ryan Kalt. The acquiror acquired 3,500,000 common share units on a direct basis for cash consideration of CAD 192,500. Announcement • Aug 23
Red Lake Gold Inc. announced that it expects to receive CAD 0.1925 million in funding Red Lake Gold Inc announced a non brokered financing of 3,500,000 common share units for issue price CAD 0.055 per share for gross proceeds CAD 192,500 on August 22, 2024. Each unit consists of one common share and one warrant. Each warrant to acquire common share at exercise price CAD 0.07 per warrant share The company has paid finder fee of 6%.The transaction is subject to regulatory approvals and four month hold period Announcement • Jul 09
Red Lake Gold Inc. announced that it expects to receive CAD 0.5 million in funding Red Lake Gold Inc. announced a non-brokered private placement of up to CAD 0.10 per share for the gross proceeds of CAD 500,000 on July 8, 2024. The corporation may pay a 6% cash finder fee on subscription under the financing, which excludes cash finder's fee on subscriptions by any insiders. If the financing is completed either in whole or through partial tranches, any common shares issued thereunder will be subject to all applicable regulatory approvals and a customary four-month and one day hold period on the common shares issued under the financing pursuant to applicable securities laws of Canada. Announcement • Apr 06
Red Lake Gold Inc. announced that it has received CAD 0.25 million in funding On April 5, 2024, Red Lake Gold Inc. closed the transaction. Announcement • Feb 08
Red Lake Gold Inc. announced that it expects to receive CAD 0.25 million in funding Red Lake Gold Inc. announced a non-brokered private placement of up to 2,000,000 common share units at a price of CAD 0.05 per unit for the gross proceeds of CAD 100,000 and 3,000,000 flow-through units at a price of CAD 0.05 per unit for the gross proceeds of CAD 150,000 for an aggregate proceeds of CAD 250,000 on February 7, 2024. Each unit will consist of one common share of the corporation and one common share purchase warrant that entitles the holder of a warrant, upon further payment to the corporation, to acquire one additional common share of the corporation at an exercise price of CAD 0.05 per warrant share on any date prior to the date which is 60 months following the closing date of the HD financing or tranche thereunder. Each flow-through Unit will consist of one common share of the corporation and one common share purchase warrant that entitles the holder of an FT Warrant, upon further payment to the corporation, to acquire one additional common share of the Corporation at an exercise price of CAD 0.05 per FT Warrant Common Share on any date prior to the date which is 60 months following the closing date of the Flow-Through Financing or tranche thereunder. he Corporation may pay a 6% cash finders fee on certain subscriptions under the HD Financing and/or the Flow-Through Financing, which excludes cash finders fees on subscriptions by Insiders who may in turn participate for greater than 25% of the HD Financing and/or Flow-Through Financing. Announcement • Dec 14
Red Lake Gold Inc. announced that it expects to receive CAD 0.05 million in funding Red Lake Gold Inc. announced a non-brokered private placement of up to 1,000,000 common share units at a price of CAD 0.05 per common share unit for gross proceeds of up to CAD 50,000 on December 13, 2023. Each unit will consist of one common share and one common share purchase warrant that entitles the holder of a warrant, to acquire one additional common share at an exercise price of CAD 0.06 per warrant share on any date prior to the date which is 36 months following the closing date of the common share unit financing or tranche thereunder. The company may pay a 6% cash finders fee on certain subscriptions under the common share financing, which excludes cash finders fees on any subscriptions by insiders. The common share unit financing is subject to all applicable regulatory approvals and the customary four-month hold period pursuant to applicable securities laws of Canada. Board Change • Dec 04
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Eugene Hodgson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Oct 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$433k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$433k free cash flow). Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (CA$3.57m market cap, or US$2.58m). Minor Risk Shareholders have been diluted in the past year (8.5% increase in shares outstanding). Board Change • Oct 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Eugene Hodgson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 07
Red Lake Gold Inc., Annual General Meeting, Dec 18, 2023 Red Lake Gold Inc., Annual General Meeting, Dec 18, 2023. Board Change • Aug 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Eugene Hodgson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 14
Red Lake Gold Inc. announced that it has received CAD 0.14 million in funding from Kalt Industries Ltd. On July 12, 2023, Red Lake Gold Inc. closed the transaction. The company has issued 2,800,000 flow-through shares at an issue price of CAD 0.05 for the gross proceeds of CAD 140,000. The corporation paid a 6% cash finder's fee on a minority segment of the flow-through financing involving 800,000 flow-through shares. The transaction included participation from new investor Kalt Industries Ltd. for 2,000,000 flow-through shares at an issue price of CAD 0.05 for the gross proceeds of CAD 1,000,000. New Risk • Jul 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (CA$1.79m market cap, or US$1.36m). Minor Risk Shareholders have been diluted in the past year (8.5% increase in shares outstanding). Announcement • Jun 29
Red Lake Gold Inc. announced that it expects to receive CAD 0.175 million in funding Red Lake Gold Inc. announced a non-brokered private placement of up to 3,500,000 flow-through common shares at a price of CAD 0.05 for gross proceeds of up to CAD 175,000 on June 28, 2023. The transaction may include participation from insiders of the company for greater than 25% of the flow-through financing. The company may pay finder's fees equal to 6% in cash in the transaction. The securities issued are subject to a hold period of four month in accordance with applicable Canadian securities laws. The transaction is subject to receipt of all applicable regulatory approvals. Board Change • Jun 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Eugene Hodgson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 12
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Eugene Hodgson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Eugene Hodgson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Eugene Hodgson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Eugene Hodgson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 07
Red Lake Gold Inc., Annual General Meeting, Oct 13, 2022 Red Lake Gold Inc., Annual General Meeting, Oct 13, 2022. Location: 810 - 789 West Pender Street Vancouver, BC V6C 1H2 Vancouver Canada Agenda: Annual General Meeting. Board Change • Apr 27
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Executive Chairman, President, CEO & Corporate Secretary Ryan Kalt is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 10
Red Lake Gold Inc. announced that it expects to receive CAD 0.6 million in funding Red Lake Gold Inc. announced a non-brokered private placement of 2,000,000 common share units at a price of CAD 0.30 per share for gross proceeds of up to CAD 600,000 on December 9, 2021. The transaction may include participation from insiders of the company for greater than 25% of the financing. Each unit shall consist of one common share and one-half of a common share purchase warrant exercisable at CAD 0.45 per common share for a period of 12 months from the date of closing. The company may pay finder's fees equal to 7% on a cash basis. The securities issued are subject to a hold period of four month in accordance with applicable Canadian securities laws. The transaction is subject to receipt of all applicable regulatory approvals. At present, the company has 31,837,501 common shares issued and outstanding. Is New 90 Day High Low • Feb 19
New 90-day low: CA$0.28 The company is down 23% from its price of CA$0.36 on 20 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 3.0% over the same period. Is New 90 Day High Low • Nov 11
New 90-day low: CA$0.27 The company is down 15% from its price of CA$0.32 on 13 August 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 4.0% over the same period. Announcement • Nov 08
Red Lake Gold Inc. completed the Spin-Off of Alma Gold Inc. The Board of Red Lake Gold Inc. (CNSX:RGLD) signed an arrangement agreement to spin-off of Alma Gold Inc. on September 1, 2020. Red Lake and Alma Gold wish to proceed with a corporate restructuring by way of a statutory arrangement under the British Columbia Business Corporations Act, S.B.C. 2002, c. 57, pursuant to which Red Lake and Alma Gold will participate in a series of transactions whereby, among other things, Red Lake will distribute the shares of Alma Gold such that the holders of Red Lake Shares (other than dissenting shareholders) will become holders of 100% of the issued and outstanding shares of Alma Gold. Each Red Lake Option will be entitled to receive one Alma Gold Option to acquire 0.95 of a Alma Gold share, each whole Alma Gold Option having an exercise price equal to the product of the original exercise price of the Red Lake Option multiplied by the fair market value of 0.95 of a Alma Gold Share at the Effective Time divided by the total of the fair market value of one New Red Lake Share and 0.95 of a Alma Gold Share at the Effective Time. Aall Red Lake Warrants shall entitle the holder to receive 0.95 of a Alma Gold Share for each Red Lake Share that was issuable upon due exercise of the Red Lake Warrant immediately prior to the Effective Time. The deal is subject to a number of conditions such that the Arrangement Resolution, with or without amendment, shall have been approved and adopted by the Red Lake Shareholders at the Red Lake Meeting in accordance with the Arrangement Provisions, the Constating Documents of Red Lake, the Interim Order and the requirements of any applicable regulatory authorities, all other consents, orders, regulations and approvals, including regulatory and judicial approvals and orders required or necessary or desirable for the completion of the transactions provided for in this Agreement and the Plan of Arrangement shall have been obtained or received from the persons, authorities or bodies having jurisdiction in the circumstances, each in form acceptable to Red Lake and Alma Gold, Dissent Rights shall not have been exercised by Red Lake Shareholders holding more than five percent (5%) of the issued and outstanding Red Lake Shares and other conditions. The transaction has been approved by the Supreme Court of British Columbia on October 29, 2020. The distribution of common shares of Alma Gold Inc., is expected to occur on or about November 6, 2020.
The Board of Red Lake Gold Inc. (CNSX:RGLD) completed the spin-off of Alma Gold Inc. on November 6, 2020. The Red Lake Gold Shares will be delisted from the Canadian Securities Exchange effective as of the close of business on November 6, 2020. The New Red Lake Gold Shares will be listed for trading on the Exchange effective as of market opening on November 9, 2020 under the same trading symbol as the Red Lake Gold Shares, "RGLD". Announcement • Oct 20
Red Lake Gold Inc. Announces the Discovery of MMI Gold Anomalies Along the LP Fault Red Lake Gold Inc. announced that its recently completed soil sampling program has identified MMI gold anomalies at its Whirlwind Jack Gold Project, the most prominent of which cluster within a magnetic low corridor along the LP Fault. The Whirlwind Jack Gold Project is a district-scale gold exploration project covering more than 21,000 ha across 1,042 mining claims. The project is located adjacent to the 9,140 ha Dixie Gold Project being advanced by Great Bear Resources Ltd. Red Lake Gold performed an inaugural soil sampling program within an eastern part of its Whirlwind Jack Gold Project in late-August. The phase one soil sampling program focused on an approximately 1.4km east-to-west by 1.25km north-to-south portion of the Whirlwind Jack Gold Project starting at the claim boundary with neighbouring Great Bear Resources Ltd., and delivered a total of 649 soil samples to the laboratory.
The survey identified MMI gold anomalies within the sampled area. Of immediate focus for Red Lake Gold are four high-priority MMI gold anomalies identified within the southern half of the sampled area. In response to the MMI soil sample results, Red Lake Gold has engaged Clark Exploration and Consulting Inc. to evaluate and plan additional exploration work, both in terms of follow-up and expansionary programs, details of which shall be provided in due course. Announcement • Sep 30
Pivit Exploration Inc. (CNSX:PIVT) acquired Three Additional Eastern Claim Blocks Adjoining Moosehead Gold Project in Newfoundland for CAD 0.09 million. Pivit Exploration Inc. (CNSX:PIVT) acquired Three Additional Eastern Claim Blocks Adjoining Moosehead Gold Project in Newfoundland for CAD 0.09 million on August 2, 2018. Pivit is paying CAD 0.017 million and CAD 0.8 million shares A 2% NSR has been granted to the vendors as well, of which Pivit can purchase 1% back for CAD 1 million at any time.
Pivit Exploration Inc. (CNSX:PIVT) completed the acquisition of Three Additional Eastern Claim Blocks Adjoining Moosehead Gold Project in Newfoundland. Announcement • Sep 29
Red Lake Gold Inc. Commences Large-Scale, High-Resolution Aeromagnetic Survey at its Whirlwind Jack Gold Project Situated Near Red Lake, Ontario Red Lake Gold Inc. has commenced a large-scale, high-resolution aeromagnetic survey at its Whirlwind Jack Gold Project situated near Red Lake, Ontario. The Whirlwind Jack Gold Project is a district-scale gold exploration project covering more than 21,000 ha across 1,042 mining claims. The project is located adjacent to the 9,140 ha Dixie Gold Project being advanced by Great Bear Resources Ltd. The fall 2020 airborne geophysical survey will cover a planned 2,715 line-kilometres, performed using 50m spacing. The heli-borne geophysical survey is being flown in a systematic low-level grid pattern with coverage of the majority of the Whirlwind Jack Gold Project, area of which is located to the west of the mag coverage area previously flown by Red Lake Gold in 2019. The fall 2020 mag survey started at the completion point of the Company's prior 2019 phase one geophysical program. This new 2,715 line-kilometre geophysical exploration program will add proprietary geophysical data covering another 123.4 km2 of the district-scale 211.8 km2 Whirlwind Jack Gold Project. The mag survey utilizes four Scintrex CS-3 cesium vapor magnetometer sensors in a custom- designed non-magnetic and non-conductive survey bird for triaxial gradient and total magnetic intensity measurements. Compared to conventional single-sensor survey systems, this design allows for direct measurement of the magnetic gradient in the X, Y and Z axes with four magnetic sensors rather than calculating the gradient from one sensor. This eliminates aircraft-induced noise and provides more structural detail, especially for near-surface targets, without compromising the total magnetic intensity. The airborne survey, conducted by Precision GeoSurveys Inc., is being flown at a nominal flight height of 40m above ground, plus/minus allocated variances. Is New 90 Day High Low • Sep 24
New 90-day high: CA$0.39 The company is up 15% from its price of CA$0.34 on 26 June 2020. The Canadian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 16% over the same period. Announcement • Jul 17
Red Lake Gold Inc. announced that it has received CAD 0.75 million in funding On July 10, 2020, Red Lake Gold Inc. (CNSX:RGLD) closed the transaction. The company has issued 150,000 units as finder's fee to the transaction.