Column: West plugs defences as China cranks up aluminum output
China's primary aluminum smelters are producing record amounts of metal and the domestic market surplus is spilling out of the country.
(via TheNewswire)
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, September 4, 2024 – TheNewswire – 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 direct acquisition of 3,500,000 common share units of the Issuer (the “Acquired Common Share Units”) through a private placement financing announced and conducted by the Issuer which closed on September 4, 2024.
Mr. Kalt personally paid, on a direct basis, the total cash sum of $192,500.00 to the Issuer for the Acquired Common Share Units.
Each Acquired Common Share Unit consisted of one common share (the “Acquired Common Shares”) and one common share purchase warrant (the “Acquired Common Share Warrants”), on terms announced by the Issuer.
The Acquired Common Shares represent 7.74% of the presently issued common shares of the Issuer.
As at the date hereof, Mr. Kalt currently owns and controls, on an aggregate direct and indirect basis, a total of 23,285,800 common shares of Red Lake Gold, representing approximately 51.47% of the Issuer’s now issued and outstanding common shares.
In addition to the foregoing, Mr. Kalt holds a further 700,000 common share stock options (held directly), a further 5,500,000 common share purchase warrants (held directly), and a further 4,000,000 common share purchase warrants held indirectly through Calgary-based Kalt Industries Ltd., which if all such securities so hereto before described were to be exercised concurrently and in their totality, would represent, in the approximate aggregate, an additional 18.4% of the then resulting common shares calculated to be outstanding of the Issuer on a post-exercise basis.
The acquired securities so above described (being, inclusively, the Acquired Common Share Units) were acquired on a direct basis by Mr. Kalt for investment purposes.
Mr. Kalt is an approved Control Person of the Issuer (as that first term is defined by the Canadian Securities Exchange).
Under the Business Corporation Act (British Columbia), which applies to the Issuer, Mr. Kalt, who is the Chairman and Chief Executive Officer of the Issuer, abstained from voting on specific resolutions related to the private placement financing and duly provided all applicable notices under the regulations.
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.
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