- Red Pine Exploration (RPX) has increased its private placement offering to C$7.3 million
- Haywood Securities Inc. has agreed to purchase 11,238,000 flow-through shares for gross proceeds of C$7,304,700
- Haywood has been granted an option to purchase up to an additional 15 per cent of the upsized offering in FT shares
- Red Pine Exploration Inc. is a Canadian-based gold exploration company
- Red Pine Exploration Inc. (RPX) is currently trading at C$0.50 per share
Red Pine Exploration (RPX) has increased its previously announced private placement offering to C$7.3 million.
Haywood Securities Inc. has agreed to purchase 11,238,000 flow-through shares at a price of C$0.65 per share for aggregate gross proceeds of C$7,304,700.
Haywood has been granted an option to purchase up to an additional 15 per cent of the upsized offering in FT shares exercisable at any time up to 48 hours prior to the closing date.
Alamos Gold Inc. has indicated its interest in participating in the upsized offering to maintain its 19.9 per cent interest in Red Pine.
The offering is expected to close on or about November 18, 2021, and is subject to certain closing conditions including the conditional listing approval of the TSXV.
Red Pine has agreed to pay Haywood a cash commission equal to 6.0 per cent of the gross proceeds from the upsized offering and non-transferable compensation options equal to 6.0 per cent of the FT shares sold under the offering.
Red Pine Exploration Inc. is a Canadian-based gold exploration company.
Red Pine Exploration Inc. (RPX) is currently trading at C$0.50 per share.