Red Pine Closes $7.745 Million Private Placement / NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
TORONTO, May 08, 2023 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to announce that it has closed its previously announced “best efforts” private placement (the “Offering”) for gross proceeds of approximately $7.745 million, including full exercise of the Agents’ Option (as defined in the press release of the Company dated March 31, 2023). The Offering consisted of: (i) 5,675,000 units of the Company (the “Units”) at a price of $0.20 per Unit (the “Issue Price”); (ii) 11,538,230 tranche 1 flow-through units of the Company (the “Tranche 1 FT Units”) at a price of $0.235 per Tranche 1 FT Unit; and (iii) 13,679,000 tranche 2 flow-through units of the Company (the “Tranche 2 FT Units” and together with the Units and the Tranche 1 FT Units, the “Offered Securities”) at a price of $0.285 per Tranche 2 FT Unit.
Red Pine Closes $7.745 Million Private Placement (globenewswire.com)