Red Pine Closes C$11,000,358 "Bought Deal" Private Placement

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TORONTO, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to announce that it has closed its previously announced “bought deal” private placement offering (the “Offering”) for gross proceeds of C$11,000,358, including the exercise in full of the Underwriters’ Option (as defined in the press release of the Company dated September 5, 2024). The Offering consisted of (i) 33,336,000 common shares (the “Non-FT Shares”) of the Company at a price of C$0.090 per Non-FT Share, (ii) 28,572,000 tranche 1 flow-through common shares (the “Tranche 1 FT Shares”) of the Company at a price of C$0.105 per Tranche 1 FT Share, and (iii) 39,683,000 tranche 2 flow-through common shares (the “Tranche 2 FT Shares” and together with the Non-FT Shares and Tranche 1 FT Shares, the “Offered Shares”) of the Company at a price of C$0.126 per Tranche 2 FT Share.

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