On June 15, 2021, Red Metal Resources Ltd. (OTCPK:RMES) closed the transaction. The company has issued 6,460,872 subscription receipts at a price of CAD 0.15 per subscription receipt for the gross proceeds of CAD 969,130.8 in its second and final tranche. The company has company has raised CAD 1,546,581.2 in the transaction. The transaction was over-subscribed. The company has paid a cash commission in an amount equal to 7% of the gross proceeds raised from subscribers and issued finders warrants in an amount equal to 7% of the number of subscription receipts purchased by subscribers. The company received $795,171 (CAD 969,131) from 74 investors which includes 3 non-accredited investors pursuant to exemption provided under Regulation D.