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Red Pine closes C$7.745M private placement

Date Closed

May 08, 2023

Lead Office

Toronto

Value

7.75 Million CAD

On May 8, 2023, Red Pine Exploration Inc. (“Red Pine” or the “Company”) closed its previously announced “best efforts” private placement for gross proceeds of approximately C$7.745 million, including full exercise of the Agents’ option (the “Offering”). The Offering consisted of: (i) 5,675,000 units of the Company at a price of $0.20 per unit; (ii)11,538,230 tranche 1 flow-through units of the Company at a price of $0.235 per unit; and (iii) 13,679,000 tranche 2 flow-through units of the Company at a price of $0.285 per unit.

The Offering was co-led by Haywood Securities Inc. (“Haywood”) and 3L Capital Inc. on behalf of a syndicate of agents which included Laurentian Bank Securities Inc. (collectively, the “Agents”).

Red Pine Inc. is a gold exploration company headquartered in Toronto, Ontario.

McCarthy Tétrault advised the Agents with a team led by Eva Bellissimo that included Lama Kahiel, Nigel Johnston, and Matthew Kraemer.

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