Renegade Gold raising $1 million for Red Lake project advancement
By Kevin Vincent
Renegade Gold Inc. has announced plans for a non-brokered private placement of flow-through common shares (“FT Shares”) priced at $0.18 per share, targeting gross proceeds of up to $1 million. The proceeds will fund Canadian exploration expenses as defined under the Income Tax Act (Canada), focusing on advancing the company’s projects in the Red Lake District of Ontario.
“This placement allows us to accelerate our exploration efforts in one of Canada’s most prolific gold districts,” said the company. “We aim to prioritize high-potential targets at our Newman Todd and Gullrock properties, as well as key locations adjacent to major operations such as Kinross’s Great Bear Project and Evolution Mining’s assets.”
Use of Proceeds
The funds will support exploration programs at the company’s expansive Red Lake holdings, including:
• Newman Todd Project: Follow-up drilling on recent intersections, including 14.0 g/t Au over 7.3 meters.
• Gullrock Property: Exploration of underexplored areas along the Balmer assemblage on the Red Lake Mine trend.
• Central Red Lake Property: Drilling near projects operated by Kinross, Evolution Mining, and West Red Lake Gold.
Placement Details
• Finders’ Fees: Cash and non-transferable warrants may be issued in connection with the placement.
• Closing Timeline: Expected in multiple tranches, pending regulatory approvals.
• Hold Period: Securities issued will be subject to a four-month and one day hold from the date of issue.
About Renegade Gold Inc.
Renegade Gold is a growth-oriented exploration company with a focus on the Red Lake Mining District. Following its acquisition of Pacton Gold Inc., the company holds over 89,600 hectares of prospective land, strategically positioned near major mines and deposits, including the Confederation Lake and Birch-Uchi greenstone belts.
With this private placement, Renegade Gold reinforces its commitment to unlocking the district’s potential and furthering its position as a leading explorer in Northern Ontario.
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