Press Releases

Red Moon Proposes Name Change and Renewable Energy Storage Spinout

13 May 2021 | by: Patricia Miller

St. John’s, Newfoundland and Labrador, May 13, 2021 – Red Moon Resources Inc. (the “Company” or “Red Moon” – TSXV:RMK) is pleased to provide the following corporate update:


  • Red Moon will be proposing a name change, to be presented to shareholders at a special AGM slated for July, 2021;
  • The name change will better reflect the Company’s core business (potential supplier of high-grade salt for North American de-icing markets) as it advances its Great Atlantic Salt Project in western Newfoundland through the Feasibility Stage;
  • To create a pure North American salt focus and unlock the value of other assets within the Company to the maximum benefit of shareholders, Red Moon is weighing various strategic options beginning with a planned spinout of “Fischell’s Brook”;
  • The Fischell’s Brook asset will underpin Red Moon’s spinout of a renewable energy storage company that could also benefit from recent advancements in compressed air energy storage (CAES) technology.

Renewable Energy Storage

Energy storage is a key component to deliver clean energy transition. One established method is to utilize underground storage caverns constructed in salt domes that can store energy produced from renewable sources and released when needed. With climate change and associated green environmental policies driving significant investment toward alternate energy sources and global carbon emission reduction, underground storage will play an important role in Canada’s energy future.

The Government of Canada recently developed and published a “Hydrogen Strategy for Canada” ( in which it predicted: “With worldwide demand for hydrogen increasing, the global market could reach over $11 trillion by 2050. Each region of Canada can utilize their unique resources to produce and deploy hydrogen domestically as well as to supply a growing export market. Based on their existing country strategies, demand potential, and proximity, Europe, Asia, and the United States have been identified as potential export markets for Canadian clean hydrogen. Implementing the Hydrogen Strategy can spark early economic recovery, lead to a $50 billion domestic hydrogen sector, and generate more than 350,000 high paying jobs from coast to coast.”

Fischell’s Brook

In October 2019 Red Moon reported that pursuant to a “Request For Proposals On The Fischell’s Brook Salt Property Exempt Mineral Land” issued by the Government of Newfoundland and Labrador, the Company was the successful bidder and was awarded the mineral rights to Fischell’s Brook which hosts a large salt dome situated approximately 15 kilometers south of the Great Atlantic salt deposit.

The acquisition of this asset was very timely given the recent developments in the rapidly expanding global energy storage market. As a result, the Company has also recently added 300 claims or 75 sq. km to its landholdings in the general vicinity of Fischell’s Brook to cover other strategic ground that has storage potential.

Unlike Great Atlantic, which is a homogenous and relatively shallow high-purity salt deposit, Fischell’s Brook is considered a salt dome-type deposit. Based on technical work filed with the provincial government by previous operators, six holes targeting this salt dome have been drilled on the area covered by the Company’s licenses. Four holes penetrated gross salt thicknesses exceeding 400 meters including up to 764 meters in Hooker #1 to a depth of 1,099 meters. These four holes all terminated in salt and encompass an area exceeding 2.25 square kilometers, providing large potential storage cavern volume. Storage caverns are created in a salt dome by drilling into the structure and circulating water, which dissolves the salt. The leftover brine is then removed, leaving a cost-effective storage cavity. Red Moon is carrying out a detailed compilation of all previous work and data related to this salt dome.

Storage of air and fluids in salt domes is well established technology. Given the location of the Fischell’s Brook salt dome in western Newfoundland, Red Moon is investigating all of it options in regard to its storage potential including possible synergies with a hydrogen project.

The Fischell’s Brook salt dome also has potential as a compressed air energy storage (CAES) “battery” that could act as a store of electricity to balance the load of other sources of electrical generation. In its simplest sense, CAES allows for the storage of compressed air underground utilizing excess electrical power in the compression stage. When the “stored power” is needed, the compressed air is released into power generating turbines. This technology is currently in use and is undergoing rapid development to maximize its efficiency.

Mr. Patrick Laracy, Red Moon CEO, commented: “Developments in the energy storage space have been dramatic since we were the successful bidder for the Fischell’s Brook salt dome. Just like Red Moon was born out of a spinout, we see a great opportunity to launch a dynamic energy storage project anchored by the Fischell’s Brook asset.”

RMK Property Holdings Map

Qualified Person

Patrick J. Laracy, P.Geo, and CEO is the Qualified Person responsible for the contents of this news release as defined in National Instrument 43-101.

About Red Moon Resources

Red Moon Resources Inc. is an emerging commodities leader in Atlantic Canada, focused on Newfoundland and Labrador, with 100% ownership of the Great Atlantic salt deposit in addition to a producing gypsum mine, an early-stage nepheline discovery, and strategic ground covering the Fischell’s Brook salt dome and other nearby potential underground storage opportunities.

For information, please contact:

Patrick J. Laracy, CEO
(709) 754-3186
[email protected]

MarketSmart Communications Inc.
Adrian Sydenham
Toll-free: 1-877-261-4466
Email: [email protected]

Not for release in the United States or to U.S. newswire services

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.


Paid Advertisement

This communication is a paid advertisement. ValueTheMarkets is a trading name of Digitonic Ltd, and its owners, directors, officers, employees, affiliates, agents and assigns (collectively the “Publisher”) is often paid by one or more of the profiled companies or a third party to disseminate these types of communications. In this case, the Publisher has been compensated by Red Moon Resources to conduct investor awareness advertising and marketing and has paid the Publisher the equivalent of sixty thousand US dollars to produce and disseminate this and other similar articles and certain related banner advertisements. This compensation should be viewed as a major conflict with the Publisher’s ability to provide unbiased information or opinion.

Changes in Share Trading and Price

Readers should beware that third parties, profiled companies, and/or their affiliates may liquidate shares of the profiled companies at any time, including at or near the time you receive this communication, which has the potential to adversely affect share prices. Frequently companies profiled in our articles experience a large increase in share trading volume and share price during the course of investor awareness marketing, which often ends as soon as the investor awareness marketing ceases. The investor awareness marketing may be as brief as one day, after which a large decrease in share trading volume and share price may likely occur.

No Offer to Sell or Buy Securities

This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security.


Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position.

This communication is based on information generally available to the public and on an interview conducted with the company’s CEO, and does not contain any material, non public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher does not guarantee the accuracy or completeness of the information. Further, the information in this communication is not updated after publication and may become inaccurate or outdated. No reliance should be placed on the price or statistics information and no responsibility or liability is accepted for any error or inaccuracy. Any statements made should not be taken as an endorsement of analyst views.

No Financial Advice

The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser or a financial adviser. The Publisher has no access to non-public information about publicly traded companies. The information provided is general and impersonal, and is not tailored to any particular individual’s financial situation or investment objective(s) and this communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor or a personal recommendation to deal or invest in any particular company or product. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company’s SEC, SEDAR and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk. Past performance does not guarantee future results.

Forward Looking Statements

This communication contains forward-looking statements, including statements regarding expected continual growth of the featured companies and/or industry. Statements in this communication that look forward in time, which include everything other than historical information, are based on assumptions and estimates by our content providers and involve risks and uncertainties that may affect the profiled company’s actual results of operations. These statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results and performance to differ materially from any future results or performance expressed or implied in the forward-looking statements. These risks, uncertainties and other factors include, among others: the success of the profiled company’s operations; the size and growth of the market for the company’s products and services; the company’s ability to fund its capital requirements in the near term and long term; pricing pressures; changes in business strategy, practices or customer relationships; general worldwide economic and business conditions; currency exchange and interest rate fluctuations; government, statutory, regulatory or administrative initiatives affecting the company’s business.

Indemnification/Release of Liability

By reading this communication, you acknowledge that you have read and understand this disclaimer in full, and agree and accept that the Publisher provides no warranty in respect of the communication or the profiled company and accepts no liability whatsoever. You acknowledge and accept this disclaimer and that, to the greatest extent permitted under applicable law, you release and hold harmless the Publisher from any and all liability, damages, injury and adverse consequences arising from your use of this communication. You further agree that you are solely responsible for any financial outcome related to or arising from your investment decisions.

Terms of Use and Disclaimer

By reading this communication you agree that you have reviewed and fully agree to the Terms of Use found here and acknowledge that you have reviewed the Disclaimer found here If you do not agree to the Terms of Use, please contact to discontinue receiving future communications.

Intellectual Property

All trademarks used in this communication are the property of their respective trademark holders. Other than, the Publisher is not affiliated, connected, or associated with, and the communication is not sponsored, approved, or originated by, the trademark holders unless otherwise stated. No claim is made by the Publisher to any rights in any third-party trademarks other than

Authors: ValueTheMarkets and Digitonic Ltd and our affiliates are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above. This article does not provide any financial advice and is not a recommendation to deal in any securities or product. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.

ValueTheMarkets do not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above piece. ValueTheMarkets have been paid to produce this piece by the company or companies mentioned above. Digitonic Ltd, the owner of, has been paid for the production of this piece by the company or companies mentioned above., Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

  • Patricia Miller does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.
  • Patricia Miller has not been paid to produce this piece by the company or companies mentioned above.
  • Digitonic Ltd, the owner of, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.
  • Digitonic Ltd, the owner of, has been paid for the production this piece by the company or companies mentioned above.

More News & Analysis

Crypto crash: So many broken promises

Crypto is once again crashing and the bulls and bears are at loggerheads. Meanwhile Coinbase is being sued and criticized for outages during volatility.