Big Red Mining Completes $757,050 Flow-Through Financing for Exploration Programs
Big Red Mining Corp. has closed its previously announced flow-through financing, raising $757,050 through the issuance of 3,605,000 common shares at $0.21 per share. The proceeds will support property exploration initiatives on the company’s optioned projects.
The company has paid a cash finder’s fee of $52,900 to GloRes Securities Inc. and issued 192,833 finder’s warrants to GloRes Securities and 59,500 finder’s warrants to Marquest Asset Management Inc. Each warrant is exercisable for one common share at $0.22 per share until June 9, 2026. All shares issued under the private placement, including those from finder’s warrant exercises, are subject to a trading restriction until April 10, 2025.
About Big Red Mining Corp.
Big Red Mining Corp. is focused on the exploration and potential development of high-value mineral resources. The company holds options to acquire 100% interests in the Antimony 2.0 Property in New Brunswick and the Dobie Lake Copper Project in Ontario.
Antimony 2.0 Property
• Location: 25 km west of Fredericton, New Brunswick.
• Significance: Situated 15 km northeast of the historic Lake George antimony mine, which produced up to 4% of the world’s antimony from 1970–1992.
• Scale: Spans over 35 square kilometers of largely unexplored terrain with excellent road and hydro access.
• Potential: Soil samples have shown highly anomalous levels of antimony.
Dobie Lake Copper Project
• Location: Approximately 100 km from Sault Ste. Marie, Ontario.
• Significance: Covers extensions of the past-producing Jentina Mine.
• Scale: Comprises 131 claims totaling 6,500 acres (26 square kilometers).
Looking Ahead
Big Red Mining’s management team, with extensive experience in financing, exploration, development, and mining, aims to identify and develop economically viable resources on its properties through targeted exploration campaigns.
Tags: Northern Ontario / Deals & Financial / Copper / All Articles