Red Pine Exploration Announces Increase to Previously Announced Brokered Private Placement
TORONTO, ONTARIO--(Marketwired - Feb 10, 2017) - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or "the Company") is pleased to announce that it has increased the size of its previously announced private placement to up to $6,500,000 in a combination of: (i) units of the Company (the "Units") at a price of C$0.12 per Unit; and (ii) common shares of the Company which will qualify as "flow-through" shares pursuant to the Income Tax Act (Canada) (the "FT Shares") at a price of C$0.145 per FT Share.
Eventus Capital Corp. is acting as lead agent in respect of the Offering with a syndicate that includes Red Cloud Klondike Strike Inc.
The agents will also have the option, exercisable up to two business days prior to the closing date of the Offering, to arrange for the purchase of up to an additional $1,000,000 in a combination of Units and FT Shares.
The terms of the financing and use of proceeds remain as previously disclosed in all other respects.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX".
Red Pine has a 60% interest in the Wawa Gold Project with Citabar LLP holding the remaining 40% interest. Red Pine is the Operating Manager of the Project and is focused on expanding the existing gold resource on the property.
For more information about the Company visit www.redpineexp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Contact
Quentin Yarie
President & CEO
(416) 364-7024
qyarie@redpineexp.com
Mia Boiridy
Investor Relations
(416) 364-7024
mboiridy@redpineexp.com
