Red Canyon Targets $1.54M in Private Placement

Red Canyon Resources Ltd. (TSE:REDC) has released an update.

Red Canyon Resources Ltd. has launched a non-brokered private placement aiming to raise $1,540,000 by offering up to 7 million units at $0.22 each. These funds are earmarked for exploration activities in the western United States and British Columbia, in addition to general working capital. The offering includes common shares and share purchase warrants, subject to a four-month holding period and approval by the Canadian Securities Exchange.

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