Red Pine Announces Upsize of Previously Announced “Bought Deal” Private Placement to C$9,565,529

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TORONTO, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) ("Red Pine" or the “Company”) is pleased to announce that it has entered into an amendment agreement with Haywood Securities Inc. (“Haywood”), as co-lead underwriter and sole bookrunner, on its own behalf and on behalf of Research Capital Corporation, as co-lead underwriter (together with Haywood, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" private placement basis, (i) 22,223,000 common shares (the “Non-FT Shares”) of the Company at a price of C$0.090 per Non-FT Share (the “Non-FT Issue Price”), and (ii) any combination of (A) tranche 1 flow-through shares (the “Tranche 1 FT Shares”) of the Company at a price of C$0.105 per Tranche 1 FT Share (the “Tranche 1 FT Issue Price”), and (B) tranche 2 flow-through 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 (the “Tranche 2 FT Issue Price”), such that the aggregate gross proceeds to the Company equal at least C$9,565,529 (the “Upsized Offering”).

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