Red Lake Gold Inc. Closes Second Tranche of Private Placement
Red Lake Gold Inc. (CSE: RGLD) completed the second tranche of a non‑brokered private placement on 13 October 2026. The issuance comprised 100 000 common shares, each sold at a price of $0.075, generating gross proceeds of $7,500. The transaction was finalized on 13 October and the closing was publicly announced on 16 October 2026 through a news release distributed via The Newswire and posted to SEDAR+.
The company confirmed the closure in a letter to the Canadian Securities Exchange (CSE) dated 16 October 2026. In the letter, Red Lake Gold stated that the placement consisted of 3 609 998 common shares at $0.075 per share and that the proceeds were used to fund ongoing exploration and development activities. The company also reaffirmed its compliance with all applicable securities legislation and CSE requirements, as documented in a FORM 6 certificate of compliance signed by CEO Michael E. Schuss on the same date.
Key details of the placement:
| Item | Value |
|---|---|
| Shares issued | 100 000 common shares |
| Price per share | $0.075 |
| Gross proceeds | $7,500 |
| Closing date | 13 October 2026 |
| Announcement date | 16 October 2026 |
The placement follows a previous tranche, which was also a non‑brokered private placement. The proceeds from both tranches are intended to support Red Lake Gold’s exploration portfolio, particularly projects in the Red Lake region of Ontario, and to maintain liquidity for operational needs.
Red Lake Gold Inc. remains listed on the Canadian Securities Exchange and reports its financials in Canadian dollars. As of 23 September 2026, the company’s share price closed at $0.20, with a market capitalization of approximately $555 930 CAD. The company’s portfolio includes the Betty and Dixie exploration projects and the long‑operating Red Lake Gold Mine, which has been in production since 1987.
The private placement was conducted under the terms of National Instrument 45‑102, and the shares are subject to a resale restriction period as specified in the placement agreement.