Red Pine Exploration

Published : August 13th, 2015

Red Pine Exploration Closes Second Tranche of Financing

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Keywords :   Canada | Gold |

Red Pine Exploration Closes Second Tranche of Financing

TORONTO, ONTARIO--(Marketwired - Aug 13, 2015) - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or the "Company") announces that it has closed the second tranche of its non-brokered financing (the "Financing"), pursuant to which it has received aggregate gross proceeds of $225,819. Total gross proceeds received to date from the Financing amount to $365,791.

The proceeds from the financing will be used to further the exploration work on the Wawa Gold Project.

Quentin Yarie, Red Pine's President and CEO, stated: "Our Wawa Gold Project has the potential to become a significant gold camp. The money raised will enable our team to further expand the current inferred resource on the property. Our exploration objective is to define the gold mineralization both in the hanging wall and footwall of Surluga Deposit and to connect the Surluga Deposit with the other historical mines on the property.

"I would like to sincerely thank all who participated in this placement for their continued support of the Project and supporting the Red Pine team. To reiterate we will continue to work hard to realize the Company's full value."

Pursuant to the Financing, the Company issued 4,516,372 flow-through units ("FT Units"). Each FT Unit, priced at $0.05 per FT Unit, contains one common share of the Company on a "flow-through" basis, within the meaning of the Income Tax Act (Canada), and one half of one non-flow through common share purchase warrant. Each full warrant (the "Warrants") carries an exercise price of $0.10 per share and an expiry date of three years from the date of issue.

In connection with the closing of the second tranche of the Financing, Red Pine paid fees in the form of cash compensation of $13,547 and issued 177,491 non-transferable compensation options, with each such option entitling the holder to acquire one common share of Red Pine at a price of $0.05 per common share within three years from the date of issuance.

D&D Securities Inc. has acted as advisor to the Company throughout the Financing.

All securities issued pursuant to the Offering are subject to a restricted period of four months and one day from the date of issuance. The Offering is subject to receipt of final approval from the TSX Venture Exchange.

Qualified Person

Quentin Yarie, PGeo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release and is responsible for overseeing all aspects of the company's exploration programs.

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".

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.

Read the rest of the article at finance.yahoo.com
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Red Pine Exploration

EXPLORATION STAGE
CODE : RPX.V
ISIN : CA75686Y1088
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Red Pine is a gold and nickel exploration company based in Canada.

Its main exploration properties are ABITIBI WEST, MOFFATT, MT LOGANO and SARACOURT in Canada.

Red Pine is listed in Canada. Its market capitalisation is CA$ 138.8 millions as of today (US$ 112.0 millions, € 96.6 millions).

Its stock quote reached its lowest recent point on December 26, 2008 at CA$ 0.01, and its highest recent level on March 26, 2021 at CA$ 0.85.

Red Pine has 261 799 984 shares outstanding.

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Nominations of Red Pine Exploration
10/4/2013Appoints New Directors
9/13/2013Announces Resignation of Chairman and CEO
Project news of Red Pine Exploration
3/29/2012Receives Till Sample Results from Ava-Claire Property - Iden...
2/10/2012Provides Exploration Outline and Announces Results of Annual...
5/19/2011(Saracourt)Commences Exploration Program on SaraCourt Property West of ...
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Corporate news of Red Pine Exploration
6/24/2016Red Pine Exploration Expands Sampling of Gold Zones in the H...
6/5/2016Red Pine Exploration Closes Private Placement Financing
5/26/2016Red Pine Exploration Announces Brokered Private Placement to...
4/5/2016Red Pine Appoints Red Cloud Klondike Strike as Strategic Adv...
2/1/2016Red Pine Announces Results of Annual Meeting
1/22/2016Impact of New Gold Discoveries on Wawa Gold Project And Upda...
1/21/2016Red Pine Exploration Inc.: Impact of New Gold Discoveries on...
1/19/2016Red Pine Exploration to Exhibit at the 2016 Vancouver Resour...
12/18/2015IIROC Trading Resumption - RPX
12/18/2015RED PINE EXPLORATION DISCOVERS NEW GOLD ZONES, DRILLS 14.28 ...
12/17/2015IIROC Trading Halt - RPX
10/1/2015Red Pine Results Support the Extension of High-Grade Gold Zo...
9/17/2015Red Pine Identifies High-Grade Gold-Bearing Quartz Veins in ...
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8/27/2015Red Pine Exploration Earns 30% Interest in Wawa Gold Project
8/25/2015Red Pine Exploration Closes Third Tranche of Financing
8/21/2015Red Pine Exploration Closes Third Tranche of Financing
8/14/2015Red Pine Exploration Closes Second Tranche of Financing
8/13/2015Red Pine Exploration Closes Second Tranche of Financing
7/30/2015Red Pine Exploration Announces Appointment of New Chief Exec...
7/29/2015Red Pine Exploration Announces Appointment of New Chief Exec...
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2/24/2015Red Pine Exploration to Exhibit at the 2015 PDAC Internation...
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1/30/2015Red Pine Announces Results of Annual Meeting
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1/9/2015Red Pine Exploration to Exhibit at the 2015 Vancouver Resour...
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12/30/2014Red Pine Exploration Announces Proposed Share Consolidation
12/18/2014Red Pine Exploration Confirms Gold Mineralization Extends Be...
12/17/2014Red Pine Exploration Confirms Gold Mineralization Extends Be...
12/16/2014Red Pine Exploration Announces Staking of Additional Claims ...
12/15/2014Red Pine Exploration Outlines Exploration Program for Wawa G...
12/11/2014Red Pine Exploration Executes Assumption Agreement for the S...
12/11/2014IIROC Trading Resumption - RPX
12/11/2014IIROC Trading Halt - RPX
10/23/2014Red Pine Exploration Announces Acquisition of Québec Silica ...
10/23/2014Red Pine Exploration Announces Acquisition of Quebec Silica ...
7/31/2014Red Pine Exploration Completes Third Round of Drilling at Ca...
5/8/2014Red Pine Exploration to Commence Mechanized Trenching on its...
5/1/2014IIROC Trading Resumption - RPX
2/26/2014to Exhibit at the 2014 Prospectors and Developers Associatio...
7/12/2013Completes Initial Review of Cayenne-Chili Property
11/13/2012Provides Company Update
11/7/2012Announces Sale of Ava-Claire Property
3/1/2012to Exhibit at the 2012 PDAC International Trade Show & Inves...
9/1/2011Drill Results and Exploration Update
4/29/2011Adds Two Highly Prospective Properties & Provides Exploratio...
3/4/2011s Previous News Release
2/22/2011Announces Completion of Private Placement
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