Red Pine Announces C$6.3 Million Private Placement of Units, Tranche 1 Flow-Through Units, and Tranche 2 Flow-Through Units

Red Pine Announces C$6.3 Million Private Placement of Units, Tranche 1 Flow-Through Units, and Tranche 2 Flow-Through Units

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (" Red Pine " or the " Company ") is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (" Haywood "), as co-lead agent and sole bookrunner, on behalf of 3L Capital Inc. (" 3L Capital " and together with Haywood, the " Co-Lead Agents "), as co-lead agent, and a syndicate of agents (together with the Co-Lead Agents, the " Agents ") in connection with a private placement on a "best efforts" agency basis, for gross proceeds of up to $6,300,000 (the " Offering ").

The Offering will consist of any combination of (i) units of the Company (the " Units ") at a price of $0.20 per Unit (the " Issue Price "); (ii) tranche 1 flow-through units of the Company (the " Tranche 1 FT Units ") at a price of $0.235 per Tranche 1 FT Unit (the " Tranche 1 FT Issue Price "); and (iii) tranche 2 flow-through units of the Company (the " Tranche 2 FT Units " and together with the Units and Tranche 1 FT Units, the " Offered Securities ") at a price of $0.285 per Tranche 2 FT Unit (the " Tranche 2 FT Issue Price ").

Each Unit will consist of one common share in the capital of the Corporation (a " Common Share ") and one-half of one common share purchase warrant of the Corporation (each whole purchase warrant, a " Warrant "). Each Tranche 1 FT Unit will consist of one Common Share which will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the " Tax Act ") and one-half of one Warrant. Each Tranche 2 FT Unit will consist of one Common Share which will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Tax Act and one-half of one Warrant. Each Warrant will entitle the holder to acquire one Common Share (a " Warrant Share ") at a price per Warrant Share of $0.250 for a period of 12 months from the Closing Date (as hereinafter defined).

The Company has granted Haywood an option, exercisable, in whole or in part, by Haywood giving notice to the Company at any time up to 48 hours prior to the closing date of the Offering, to sell up to an additional $945,000 in any combination of (i) Units at the Issue Price, (ii) Tranche 1 FT Units at the Tranche 1 FT Issue Price, and (iii) Tranche 2 FT Units at the Tranche 2 FT Issue Price.

The Offered Securities to be issued under the Offering will be offered by way of private placement in Canada and in such other jurisdiction(s) as may be agreed to between Red Pine and Haywood and will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering.

The gross proceeds from the sale of Tranche 1 FT Units and Tranche 2 FT Units will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the " Qualifying Expenditures ") related to the Company's projects in Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the Offered Securities effective December 31, 2023. The net proceeds from the sale of Units will be used by the Company for ongoing exploration at the Wawa Gold Project, working capital and general corporate purposes.

The Offering is expected to close on or about April 25, 2023 and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange and the applicable securities regulatory authorities. The Offering is subject to final acceptance of the TSX Venture Exchange.

In consideration for their services, the Company has agreed to pay the Agents a cash commission equal to 6.0% of the gross proceeds from the Offering and that number of non-transferable compensation options (the " Compensation Options ") as is equal to 6.0% of the aggregate number of Offered Securities sold under the Offering. Each Compensation Option is exercisable to acquire one common share of the Company at the Issue Price for a period of 24 months from the closing date of the Offering.

The Offered Securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol "RDEXF".

The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,900 hectares in size. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region.

For more information about the Company, visit www.redpineexp.com

Or contact:

Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com

Or

Carrie Howes, Director Corporate Communications, (416) 644-7375, chowes@redpineexp.com

Cautionary Note Regarding Forward-Looking Information

This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance.

Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Forward-looking information contained in this news release includes but may not be limited to:" the potential for a hybrid pit and underground project". Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Such opinions, assumptions and estimates are inherently subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's mineral reserves and resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and weather, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including the Company's annual information form, financial statements and related MD&A for the year ended July 31, 2022, and the interim financial reports and related MD&A for the period ended October 31, 2022, filed with the securities' regulatory authorities in certain provinces of Canada and available at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.


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Red Pine Announces Proposed New Investment by Merk Investments LLC

Red Pine Announces Proposed New Investment by Merk Investments LLC

/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (" Red Pine " or the " Company "), further to its news releases of March 31, 2023, is pleased to announce that Merk Investments LLC (" Merk ") has expressed its interest in participating in the Company's previously announced private placement (the " Upsized Offering "). It is anticipated that Merk will purchase securities under the Upsized Offering such that it will own approximately 9.9% and 14.2% of the pro forma issued and outstanding shares of the Company, on a basic and partially diluted basis, respectively. Prior to the Upsized Offering, Merk did not own any securities of Red Pine.

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Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (" Red Pine " or the " Company ") announces that Mr. Nils Engelstad, Alamos Gold Inc.'s ("Alamos") nominee on the Company's board of directors (the "Board"), has resigned as a member of the Board, effective April 4, 2023. Alamos will continue to have the right to nominate one member to the Board provided it continues to beneficially own at least 10% of the issued and outstanding common shares of the Company pursuant to the terms of its Investor Rights Agreement with the Company.

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/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (" Red Pine " or the " Company ") is pleased to announce that it has entered into an amendment agreement with Haywood Securities Inc. (" Haywood "), as co-lead agent and sole bookrunner, on behalf of 3L Capital Inc. (" 3L Capital " and together with Haywood, the " Co-Lead Agents "), as co-lead agent, and a syndicate of agents (together with the Co-Lead Agents, the " Agents ") in connection with a private placement on a "best efforts" agency basis, to increase the size of the previously announced private placement to gross proceeds of up to $6,800,000 (the " Upsized Offering ").

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Red Pine Announces New Drilling Results & Further Extends Gold Mineralization above the Jubilee Shear - drills 3.50 g/t gold over 25.15 m including 36.48 g/t gold over 2.01 metres. Outlines Open Pit Exploration Target

Red Pine Announces New Drilling Results & Further Extends Gold Mineralization above the Jubilee Shear - drills 3.50 g/t gold over 25.15 m including 36.48 g/t gold over 2.01 metres. Outlines Open Pit Exploration Target

Red Pine Exploration Inc. ( TSXV: RPX, OTCQB: RDEXF ) ("Red Pine" or the "Company") is pleased to report new drilling results from its ongoing exploration program. The new results continue to indicate that broad zones of gold mineralization exist in the hanging wall of the Jubilee Shear in geological structures that were sparsely tested by historic drilling programs.

  • Minto B Shear located above the Jubilee Shear
    • Intersection of 3.50 g/t gold (or "Au") over 25.15 m in SD-22-415 (Figure 3) that includes:
      • High-grade gold in a quartz vein network transposed in the Minto B Shear that contains 36.48 g/t gold over 2.01 metres.
    • Intersection of 4.63 g/t gold over 10.80 m, including 16.44 g/t Au over 2.50 m in SD-22-413 (Figure 2) (see February 16, 2023 press release)
  • Extension of mineralized structures in the hanging wall of the Jubilee Shear (Figure 1)
    • 1.37 g/t gold over 7.10 m including 5.02 g/t gold over 0.99 m and 4.41 g/t gold over 4.41 m in the Minto C Shear

Quentin Yarie, President and CEO of Red Pine Exploration commented:

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Red Pine Extends Gold Mineralization Within and Below the Jubilee Shear - Drills 5.07 g/t gold over 27.35 metres

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Red Pine Exploration Inc. ( TSXV: RPX, OTCQB: RDEXF ) ("Red Pine" or the "Company") is pleased to report new drilling results from its continuing exploration program. The new results indicate that high-grade vein networks, comparable to the Surluga North Vein Network intersected in SD-22-396 (5.13 gt gold over 37.47 m), are present in the footwall of the Surluga; an area that was historically untested and wide open for resource expansion. (Figures 1 & 2)

Highlights

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HIGHLIGHTS

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Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold") is pleased to announce that it has filed with the applicable Canadian securities regulatory authorities the management information circular dated May 8, 2024 and related meeting materials of Steppe Gold (the "Meeting Materials") for use at the annual general and special meeting (the "Meeting") of Steppe Gold shareholders (the "Shareholders") to be held in connection with the proposed transaction with Boroo Gold LLC ("Boroo Gold") and Boroo Pte Ltd. ("Boroo Singapore"), or one of its affiliates, as previously announced on April 11, 2024 (the "Transaction"). Steppe Gold has also mailed copies of the Meeting Materials to Shareholders entitled to vote on the Transaction at the Meeting.

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Gold Royalty Corp. (" Gold Royalty " or the " Company ") (NYSE American: GROY) is pleased to announce the filing of its operating and financial results for the three months ended March 31, 2024 . All amounts are expressed in U.S. dollars unless otherwise noted.

David Garofalo , Chairman and CEO of Gold Royalty, commented: "We are proud to have delivered on another growth milestone in the first quarter, generating positive operating cash flow for the first time. Our recent acquisitions, royalty generator model, and existing flagship royalties fueled our record revenue this quarter. We also continued to lower our cost profile compared to the prior year. With the gold price near all-time highs and the ramp up of the Côté Gold Mine in the second half of 2024, we expect to see continued royalty revenue growth through the remainder of the year.

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Horizon Minerals Limited  Binding 200KT Toll Milling Agreement Executed with FMR

Horizon Minerals Limited Binding 200KT Toll Milling Agreement Executed with FMR

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to announce that it has entered into a binding Toll Milling Agreement ("TMA") with FMR Investments Pty Ltd ("FMR") to treat 200kt of Horizon ore from the Cannon underground project, or other deposit, commencing in the December 2024 Quarter.

HIGHLIGHTS

- Binding TMA has been executed with FMR, which owns the Greenfields Mill located northeast of Coolgardie and 30km southwest of Kalgoorlie-Boulder in WA

- Horizon will arrange contract mining and hauling of ore from Cannon for ore processing at FMR's 1.0Mtpa Greenfields Mill, located ~67km by road from the Cannon Project

- An agreed 200kt of ore will be processed over a period of eight months, commencing in the December 2024 Quarter

- The TMA contains competitive ore treatment rates with the payment structure as follows:

o Horizon is responsible for delivery of each stockpile to the Greenfields Mill ROM near Coolgardie

o Payment of processing costs must be made before the value of the processed and refined gold at the Perth Mint is transferred from FMR's metal account to Horizon

o If the delivery schedule is missed Horizon will forfeit its allocated tonnes for that month and from the overall 200kt allocation

- An Ore Reserve for Cannon has already been established including forecast economics for the ore to be processed via a Toll Milling Agreement

- Cannon is fully environmentally permitted (with last mining in 2017) with pre-production activities are already underway, including dewatering of the open pit in preparation for underground mining

- The TMA has flexibility that Horizon can treat Horizon ore other than Cannon, including Horizon's own current resources or those acquired through the proposed merger with Greenstone Resources Limited, provided sufficient notice is provided to FMR

Commenting on the toll milling agreement, Chief Executive Officer Mr Grant Haywood said:

"We are very pleased to have converted our 200,000 tonne allocation with FMR into a formal Toll Milling Agreement, and look forward to working closely with them as ore deliveries will commence later this calendar year. This agreement is in addition to our 1.4Mt ore sale agreement with Paddington announced a week ago. Together this will see us generating cash flow from two fronts in this fantastic gold price environment before the end of 2024."

Next Steps

- AMC Consultants has been engaged and undertaken a review of the Cannon Ore Reserve and will progress the revised key financial outcomes for the June 2024 Quarter

- Finalise engagement with underground mining and haulage contractors to finalise tenders for Cannon

- Complete the proposed merger with Greenstone Resources to enhance the long-term production profile with development ready high-grade projects

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/WUABZYMW



About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

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