Red Metal Limited

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Home Investors ASX Announcements Share Placement Completed
Share Placement Completed
SHARE PLACEMENT COMPLETED
 
The Board of Red Metal Limited (Red Metal or the Company) is pleased to advise that the share placement announced on 10 July 2020 has now
been completed. The Company confirms the allotment of 33,333,334 ordinary fully paid shares (Shares) at $0.09 per Share to raise
A$3million. The Shares were placed to selected Australian institutions and professional investors. The placement lead manager was Veritas
Securities Limited. The Company now has a total of 245,591,743 shares on issue.
 
The proceeds of the placement will primarily be used to advance targets towards drilling on several of the Company’s 100% owned projects. This
will include a 2D seismic trial over the advanced Maronan silver-lead project, magnetotelluric surveying for large copper-gold breccia systems
on Corkwood and ground electromagnetic surveys on the new Pardoo nickel-copper project. The new funds will enable the Company to
maintain its strong project generation capacity and also be used for general working capital purposes.
 
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