Red Pine Exploration Inc. closes C$11M bought deal private placement

On October 1, 2024, Red Pine Exploration Inc. ("Red Pine") closed its bought deal private placement offering for gross proceeds of C$11 million. The offering consisted of 33,336,000 common shares for C$0.09 per common share, 28,572,000 tranche 1 flow-through common shares for C$0.105 per tranche 1 flow-through common share and 39,683,000 tranche 2 flow-through common shares at a price of C$0.126 per Tranche 2 flow-through common share.

The proceeds of the offering will be used for exploration at the Wawa Gold Project in Ontario and for general working capital and corporate purposes.

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

McCarthy Tétrault advised Haywood Securities Inc. and Research Capital Corporation as co-lead underwriters, with a team led by Eva Bellissimo that included Nancy Choi, Lama Kahiel (Business), Mike Hegedus and Matt Kraemer (Tax).