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Vancouver, British Columbia--(Newsfile Corp. - August 7, 2024) - Big Red Mining Corp. (CSE: RED) (FSE: K8J) (the "Company" or "Big Red") is pleased to announce the closing of its Non-Brokered Private Placement (the "Private Placement") announced June 27, 2024. The Private Placement consisted of the issuance of 1,500,000 common shares of the Company ("Shares") at a price of C$0.10 per common share for gross proceeds of $150,000 to the Company. All securities issued pursuant to the Private Placement are subject to a statutory hold period in accordance with the applicable Canadian securities laws, expiring on December 7, 2024.
The net proceeds received from the Offering will be used by the Company for general working capital and exploration and development activities.
About Big Red Mining Corp.
Big Red holds an option to acquire a 100% interest in the Dobie Lake Copper Project (the "Property") in Ontario, Canada. The Property is Located approximately 100 km from Sault Ste Marie, Ontario. The Property surrounds and covers Extensions of the Past producing Jentina Mine. The Property comprises 131 claims totaling 6,500 Acres (26 Square kilometers). Big Red's management team possess extensive experience in financing, exploration, development and mining. Big Red's mission is to conduct future drilling campaigns on the Dobie Lake copper property to maximize its minable resource potential.
On Behalf of the Board of Directors
Jag Sandhu, CEO and President 778-218-9638
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219170
