This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Calgary, Alberta – TheNewswire - November 29, 2024 – Mr. Ryan Kalt reports that he has today acquired securities of Red Lake Gold Inc. (CSE: RGLD) (“Red Lake Gold” or the “Issuer”) being represented by the acquisition of 5,000,000 common share units of the Issuer (the “Acquired Common Share Units”) acquired on a direct and indirect basis by way of a private placement financing announced and conducted by the Issuer, which closed November 29, 2024 (see news release by the Issuer of same date).

 

Total cash consideration of $250,000.00 was paid to the Issuer for the Acquired Common Share Units.

 

As at this news release, Mr. Kalt currently owns and controls, on an aggregate direct and indirect basis, a total of 29,552,800 common shares of Red Lake Gold, representing approximately 58.82% of the Issuer’s now issued and outstanding common shares, plus certain other convertible securities (stock options and warrants) as otherwise described in the Form 62-103F1 accompanying this news release.

 

Mr. Kalt is an approved Control Person of the Issuer (as that first term is defined by the Canadian Securities Exchange).

Of the 5,000,000 Acquired Common Share Units, 3,000,000 Acquired Common Share Units were acquired on a direct basis and 2,000,000 Acquired Common Share Units were acquired on an indirect basis through a corporate entity that is wholly-owned by Mr. Kalt. Each Acquired Common Share Unit consisted of one common share and one common share purchase warrant, on the terms and conditions announced by the Issuer and as set out in the Form 62-103F1 accompanying this news release.

   

The acquired securities so above described (being, inclusively, the Acquired Common Share Units) were acquired by Mr. Kalt for investment purposes.

 

Mr. Kalt may acquire additional securities of the Issuer either on the open market or through private acquisitions or sell securities of the Issuer either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Other than the foregoing, Mr. Kalt does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.

 

“Ryan Kalt”

Ryan Kalt

 

The Form 62-103F1 – Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from SEDAR+ at www.sedarplus.ca. In the alternate, to obtain a copy of the report, please contact Mr. Kalt at 1.403.454.2984.

 

The CSE has not reviewed, approved or disapproved the contents of this press release.