- Haywood Securities has agreed to purchase 7,693,000 flow-through shares of Red Pine (RPX) for aggregate gross proceeds of C$5,000,450
- Red Pine has granted Haywood an over-allotment option
- The offering is expected to close on or about November 18th
- Red Pine Exploration is a Canadian-based gold exploration company
- Red Pine Exploration Inc. (RPX) is up 2.04 per cent, trading at C$0.50 per share at 3:50 pm ET
Haywood Securities has agreed to purchase 7,693,000 flow-through shares of Red Pine (RPX) on a private placement basis for gross proceeds of C$5,000,450.
Red Pine has granted Haywood an option to purchase up to an additional 15 per cent of the offering in FT shares at any time up to 48 hours prior to the closing date.
The offering is expected to close on or about November 18, 2021, and is subject to the receipt of all necessary approvals including the conditional listing approval of the TSXV.
Securities issued under the offering will be subject to a hold period expiring four months and one day from the closing date of the offering.
In consideration of its services, Haywood will receive a cash commission equal to 6.0 per cent of the gross proceeds and an equal number of non-transferable compensation options. Each compensation option is exercisable to acquire one common share of the company for a period of 24 months from the closing date of the offering.
Red Pine Exploration is a Canadian-based gold exploration company.
Red Pine Exploration Inc. (RPX) is up 2.04 per cent, trading at C$0.50 per share at 3:50 pm ET.