- Red Pine issued 12,923,700 flow-through shares at a price of C$0.65 per share for aggregate gross proceeds of C$8,400,405
- Red Pine paid Haywood a six per cent cash commission and an equal amount of non-transferable compensation options
- Red Pine Exploration is a Canadian-based gold exploration company
- Red Pine Exploration Inc. (RPX) is unchanged on the day, trading at C$0.52 per share at 12:45 pm ET
Red Pine (RPX) has closed its previously announced private placement with Haywood Securities as sole underwriter and bookrunner.
Red Pine issued 12,923,700 flow-through shares at a price of C$0.65 per share for aggregate gross proceeds of C$8,400,405. In consideration for its services, Red Pine paid Haywood a six per cent cash commission and an equal amount of non-transferable compensation options. Each compensation option is exercisable to acquire one common share at a price of C$0.50 per share for a period of 24 months from the closing date of the offering.
The securities issued are subject to a hold period expiring on March 19, 2022. The offering is subject to the final acceptance of the TSXV.
Red Pine Exploration is a Canadian-based gold exploration company.
Red Pine Exploration Inc. (RPX) is unchanged on the day, trading at C$0.52 per share at 12:45 pm ET.
