- Red Pine Exploration (RPX) has announced a bought-deal private placement for gross proceeds of $5,000,180
- The underwriters have agreed to purchase 7,693,000 common shares and 10,000,000 flow-through common shares
- If the over-allotment option is exercised in full, an additional $750,027 in gross proceeds will be raised, increasing the gross proceeds of the offering $5,750,207
- The offering is scheduled to close on or about September 29th
- Red Pine Exploration Inc. is a Canada-based gold exploration company
- Red Pine Exploration Inc. (RPX) is unchanged on the day, trading at C$0.31 per share at 4 pm ET
Red Pine Exploration (RPX) has announced a bought-deal private placement for gross proceeds of $5,000,180.
The company has entered into an agreement with Haywood Securities as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including Canaccord Genuity Corp, and Laurentian Bank Securities Inc.
The underwriters have agreed to purchase 7,693,000 common shares and 10,000,000 flow-through common shares.
Red Pine has agreed to grant the underwriters an over-allotment option to purchase up to an additional 15 per cent of the total gross proceeds of the offering up until 30 days following the closing of the offering. If this option is exercised in full, an additional $750,027 in gross proceeds will be raised, increasing the gross proceeds of the offering $5,750,207.
Net proceeds will be used to fund exploration at the company’s Wawa Gold Project and for working capital and general corporate purposes.
The offering is scheduled to close on or about September 29, 2022.
Red Pine Exploration Inc. is a Canada-based gold exploration company.
Red Pine Exploration Inc. (RPX) is unchanged on the day, trading at C$0.31 per share at 4 pm ET.