Red Canyon Resources Ltd. is pleased to announce a non-brokered private placement of Charity Flow-Through Common Shares to raise gross proceeds of up to C$2,200,000. The Company proposes to issue up to 8,088,235 flow-through common shares of the Company at a price of $0.272 per Charity FT Share to corporate, institutional, professional and sophisticated investors . The lead order underlying the Charity FT Offering is a commitment from a multinational mining corporation to acquire a 9.9% equity interest in the Company through the purchase of approximately 6,000,000 common shares, which will raise approximately C$1,632,000 in Charity flow-through funds. Each Charity FT Share will qualify as a "flow-through share" within the meaning of subsection 66 of the Income Tax Act . The i...