Red Lake Gold Inc. (CSE: RGLD) closed the first tranche of a non-brokered private placement, issuing 3,609,998 common shares at $0.075 per share for gross proceeds of $270,749.85, according to a press release.

The company paid aggregate cash finder's fees of $6,789.99 in connection with the offering. Following the closing, Red Lake Gold has 8,663,915 common shares issued and outstanding.

The company said it intends to use the net proceeds for general working capital, ongoing corporate obligations, and exploration work at its mineral properties in Ontario, Canada.

All common shares issued under the offering are subject to a statutory hold period of four months and one day, expiring Feb. 8, 2026. The offering was completed on terms announced in a news release dated Aug. 31, 2026.