6 June 2022director interest notice● Neutral
RED METAL RESOURCES, LTD. 10%+ owner Richard Jeffs bought 82,500 shares on the open market at $0.12.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Sept 2021quarterly activities report▼ Bad
RED METAL RESOURCES, LTD. reported a quarterly net loss of $312 thousand for the period ended 2021-07-31.
28 June 2021securities registration● Neutral
RED METAL RESOURCES, LTD. filed notice of an exempt private placement.
23 June 2021capital raising announcement▲ GoodMajor
On June 15, 2021 the company closed the subscription-receipt placement: 6,460,872 receipts at CAD$0.15 for CAD$969,131, held in escrow with Computershare. Combined with the May unit placement, the company says it raised CAD$1,546,581.2 in total. The money is released, and the receipts convert into shares plus warrants, only once the shares list on a recognized Canadian exchange; if that has not happened by Sept 30, 2021 (or a later agreed date), the money is returned and the receipts cancelled. Finders get 7% cash and 7% warrants at release. The Canadian listing is therefore now a condition for this funding to reach the company.
14 June 2021quarterly activities report▼ Bad
RED METAL RESOURCES, LTD. reported a quarterly net loss of $312 thousand for the period ended 2021-07-31.
2 June 2021securities registration● Neutral
RED METAL RESOURCES, LTD. filed notice of an exempt private placement.
2 June 2021securities registration● Neutral
RED METAL RESOURCES, LTD. filed notice of an exempt private placement.
1 June 2021director interest notice● Neutral
RED METAL RESOURCES, LTD. Vice President Exploration Michael Thompson acquired 233,334 shares at $0.12 under a company stock plan.
20 May 2021capital raising announcement▲ GoodMajor
On May 17, 2021 the company closed the unit part of its private placement: 3,849,668 units at CAD$0.15 for CAD$577,450.20, each with one share and a warrant at CAD$0.20 for two years. Director Michael Thompson bought 233,334 units. This adds about 3.85 million shares, with up to the same number more if warrants are exercised, so existing holders are diluted. The company also upsized the subscription-receipt offering to CAD$550,000, for up to CAD$1,150,000 in total. Proceeds are intended for the Carrizal property and working capital.
What it means for a shareholder
3.8m new shares at C$0.150 to raise about C$577,450. That's 8.5% dilution: every existing holder's slice gets 8.5% smaller. If you held C$1,000 of shares (6,667 at the issue price), your slice goes from 0.0162% to 0.0148% of the company. To keep it you'd need 623 more shares - about C$93 at the issue price.
Create a free account to see this worked out for your own holding.
28 Apr 2021director interest notice● Neutral
RED METAL RESOURCES, LTD. 10%+ owner Richard Jeffs sold 24,430 shares.
27 Apr 2021director interest notice● Neutral
RED METAL RESOURCES, LTD. 10%+ owner Richard Jeffs sold 24,430 shares.
20 Apr 2021director interest notice● Neutral
RED METAL RESOURCES, LTD. 10%+ owner Richard Jeffs sold 30,000 shares at $0.25.
6 Apr 2021director interest notice● Neutral
RED METAL RESOURCES, LTD. 10%+ owner Richard Jeffs bought 36,539 shares on the open market at $0.15.
2 Mar 2021director interest notice● Neutral
RED METAL RESOURCES, LTD. 10%+ owner Richard Jeffs bought 1,042 shares on the open market at $0.13.
18 Feb 2021capital raising announcement▲ GoodMajor
The Nevada-to-British Columbia move was completed effective Feb 10, 2021, after shareholders approved it at a Feb 9 meeting with 99.9% of votes cast. The same vote ratified the royalty agreements with insiders, elected five directors and approved the auditor. This resolves the S-4 thread. The company also announced a private placement of up to CAD$1,000,000 at CAD$0.15 (subscription receipts and/or units), with the subscription-receipt money held in escrow until a Canadian exchange listing and returned if that does not happen by Sept 30, 2021; there is no assurance it will complete.
5 Jan 2021securities registration● Neutral
RED METAL RESOURCES, LTD. filed the final prospectus for a registered offering.
30 Dec 2020director interest notice● Neutral
RED METAL RESOURCES, LTD. 10%+ owner Richard Jeffs bought 2,600 shares on the open market at $0.10.
23 Dec 2020business combination● Neutral
The company filed Amendment No. 1 to its Form S-4, continuing the proposed move from Nevada to British Columbia with shareholders receiving shares one-for-one (41,218,008 shares as of Nov 30, 2020). The meeting date and record date are still blank, and the agenda is unchanged from the December filing: the conversion, five directors, auditor, pay vote, and ratification of the royalty grants to Caitlin Jeffs, Richard Jeffs and Joao da Costa. The visible text shows no new substantive terms; the filing is still subject to completion.
14 Dec 2020quarterly activities report● Neutral
RED METAL RESOURCES, LTD. reported a quarterly net income of $7 thousand for the period ended 2020-10-31.
11 Dec 2020material agreement▲ GoodMajor
On Dec 7, 2020 the company issued a corporate update announcing the proposed move from Nevada to British Columbia (aimed at easier fundraising and, with no assurance, a future Canadian listing) and filing of a new technical report on the Carrizal copper-cobalt-gold property dated Nov 28, 2020. It says since July 2018 it cancelled $1,979,844 owed to insiders and $351,952 owed to contractors and employees, and management has worked without pay since July 2018. The Carrizal property is 21 exploitation concessions totalling 3,278 hectares (Farellon and Perth), and COVID-19 has limited Chilean field work. This backs up the S-4 filed days earlier and the July 2020 royalty sale; it does not mention the 2017 Power Americas LOI.
4 Dec 2020business combination● NeutralMajor
The company filed a Form S-4 proposing to move its legal home from Nevada to British Columbia, with existing shareholders receiving shares one-for-one (41,218,008 shares outstanding as of Nov 30, 2020). The shareholder meeting would also elect five directors and ask holders to ratify the July 2020 royalty grants to Caitlin Jeffs, Richard Jeffs and Joao da Costa; the shares are expected to stay quoted on OTC Pink as RMES. Dissenters' rights are offered, and the filing is not yet effective or voted on.
21 Sept 2020quarterly activities report▼ Bad
RED METAL RESOURCES, LTD. reported a quarterly net loss of $43 thousand for the period ended 2020-07-31.
15 Sept 2020late filing notice▼ Bad
RED METAL RESOURCES, LTD. notified the SEC that its quarterly report would be filed late.
5 Aug 2020material agreement▼ BadMajor
On July 29, 2020 the Chilean subsidiary sold net smelter royalties on its Carrizal-area concessions (including Farellon, Perth, Quina and Exeter) to Richard Jeffs, Caitlin Jeffs and Joao da Costa for a combined $5,000. Royalty rates are 0.75%-1.25% for Richard Jeffs, 0.45%-0.75% for Caitlin Jeffs and 0.30%-0.50% for da Costa depending on the property. If commercial exploitation has not begun within two years, each purchaser is paid $10,000 a year, and the deal is not complete until registered in Chile. These are related-party deals, so future production revenue would be shared with insiders; the filing does not say whether shareholders approved it.
13 July 2020director interest notice● Neutral
RED METAL RESOURCES, LTD. CEO, President Jeffs Caitlin bought 5,000 shares on the open market at $0.04.
13 July 2020director interest notice● Neutral
RED METAL RESOURCES, LTD. CEO, President Jeffs Caitlin bought 5,000 shares on the open market at $0.04.
12 June 2020quarterly activities report▼ Bad
RED METAL RESOURCES, LTD. reported a quarterly net loss of $43 thousand for the period ended 2020-07-31.
30 Apr 2020substantial holder notice● Neutral
Caitlin Jeffs reported a RED METAL RESOURCES, LTD. shareholding of 5,418,329 shares (13.15% of votes) in a periodic institutional filing.
4 Feb 2020director interest notice● Neutral
RED METAL RESOURCES, LTD. 10%+ owner Richard Jeffs bought 2,500 shares on the open market at $0.04.
31 Jan 2020director interest notice● Neutral
RED METAL RESOURCES, LTD. 10%+ owner Richard Jeffs bought 58,500 shares on the open market.