UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
July
29, 2020
Date of Report (Date of earliest event reported)
RED METAL
RESOURCES LTD.
(Exact name of registrant as specified in its charter)
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NEVADA
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000-52055
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20-2138504
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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278 Bay Street, Suite 102
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Thunder Bay,
ON
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P7B
1R8
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(Address of principal executive offices)
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(Zip Code)
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1 (807)
345-5380
Registrant's telephone number, including area code
NOT
APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
____Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
____Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
____Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
____Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE
AGREEMENT
On
July 29, 2020 Minera Polymet SpA (“Polymet”), a Chilean subsidiary
of Red Metal Resources Ltd. (“Red Metal” or the “Company”) entered
into Mining Royalty Agreements (the “NSR Agreements”) to sell net
smelter returns (the “NSR”) on the mineral concessions collectively
known as the Carrizal Property. The NSR Agreements were signed with
three non-arms length individual purchasers listed in the table
below (collectively, the “Purchasers”).
Pursuant to the NSR Agreements, the Purchasers agreed to purchase
NSRs on mineral properties as described below for a combined total
of $ 5,000.
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Royalty to be paid (%)
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Property
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ROL
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Richard Jeffs,
Major Shareholder
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Caitlin Jeffs,
CEO and
Director
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Joao da Costa,
CFO and
Director
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Farellon I al
VIII
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033030156-2
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0.75
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0.45
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0.30
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Cecil 1-49
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033030329-8
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1.25
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0.75
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0.50
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Azúcar 6/25
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033030342-5
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1.25
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0.75
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0.50
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Kahuna 1/40
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033030360-3
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1.25
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0.75
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0.50
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Stamford
61/101
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033030334-4
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1.25
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0.75
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0.50
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Teresita
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033030361-1
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1.25
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0.75
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0.50
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Quina 1-56
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033030398-0
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0.75
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0.45
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0.30
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Exeter 1-54
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033030336-0
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0.75
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0.45
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0.30
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Perth 1-36
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033030383-2
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1.25
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0.75
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0.50
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Rey Arturo
1-30
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033021983-1
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1.25
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0.75
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0.50
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Lancelot II
1-40
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033030690-4
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1.25
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0.75
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0.50
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Lancelot 1
1-27
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033020283-2
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1.25
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0.75
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0.50
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Merlin IB 1 al
10
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033030691-2
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1.25
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0.75
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0.50
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Merlin I A 1 al
48
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033030692-0
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1.25
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0.75
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0.50
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Tristan II B 1 al
4
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03201D251-1
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1.25
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0.75
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0.50
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Galahad IA 1 al
44
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03201D252-k
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1.25
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0.75
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0.50
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Camelot 1 al
60
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03201D253-8
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1.25
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0.75
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0.50
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Galahad I C 1 al
60
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03201D254-6
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1.25
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0.75
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0.50
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Tristan II A 1 al
60
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03201D264-3
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1.25
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0.75
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0.50
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Galahad I B 1 al
3
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03201D255-4
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1.25
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0.75
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0.50
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Percival 4 1 al
60
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03201 D256-2
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1.25
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0.75
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0.50
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The NSR will be paid quarterly once commercial exploitation begins
and will be paid on gold, silver, copper and cobalt sales. If,
within two years, the Company does not commence commercial
exploitation of the mineral properties, an annual payment of
$10,000 per Purchaser will be paid. Pursuant to Chilean law, this
agreement is not fully complete until registered against the land
title in Chile.
The foregoing description of the NSR Agreements does not purport to
be complete and is qualified in its entirety by reference to the
complete text of the NSR Agreements attached as Exhibit 10.1, 10.2
and 10.3 hereto.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
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Exhibit Number
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Description of Exhibit
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10.1
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Mining Royalty
Agreement with C Jeffs dated for reference July 29th, 2020*
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10.2
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Mining Royalty
Agreement with R Jeffs dated for reference July 29th, 2020*
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10.3
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Mining Royalty
Agreement with J da Costa dated for reference July 29th, 2020*
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*
Personal information included in the Agreement has been
redacted.
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, hereunto duly authorized.
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RED METAL
RESOURCES LTD.
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Date:
August 4, 2020
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By: /s/ Joao da
Costa
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Name: Joao da
Costa
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Title:
Chief Financial Officer
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