Latest news with #RedPineExploration
Yahoo
23-07-2025
- Business
- Yahoo
Red Pine Completes 2024–25 Drilling Program & Initiates Preliminary Economic Assessment Work at Wawa Gold Project
TORONTO, July 23, 2025 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) ('Red Pine' or the 'Company') is pleased to announce the completion of its 2024-25 drilling program at the Wawa Gold Project. The drilling program commenced in November 2024 and was completed at the end of June 2025. It consisted of 69 completed drill holes totaling 24,574.5 metres ('m'). Additional assays are pending. The 2024-25 drilling program achieved its two primary goals: Strengthen geological database to evaluate potential starter open pits in two near-surface areas of the Jubilee Shear with 9,000 m of the 25,000 m program of infill drill holes (see Figure 1) 45.38 grams per tonne of gold ('g/t Au') over 3.13 m core length, including 141.00 g/t Au over 0.88 m (see press release of June 18, 2025) 1.86 g/t Au over 19.09 m, including 4.28 g/t Au over 4.88 m (see press release of June 18, 2025) 14.51 g/t Au over 4.81 m, including 90.40 g/t Au over 0.67 m (see press release of May 12, 2025) Test the overall size potential of the gold system of the Wawa Gold Project beyond the 2024 Mineral Resource Estimate ('2024 MRE') with significant step-outs, over 600 m, from known areas of mineralization (see Figure 1) 5.68 g/t Au over 10.72 m, including 19.05 g/t Au over 2.00 m (see press release of March 20, 2025) 8.41 g/t Au over 1.67 m, including 14.9 g/t Au over 0.92 m (see press release of February 19, 2025) The newly discovered gold zone at depth that could extend over 940 m Preliminary Economic Assessment ('PEA') work has commenced on the Wawa Gold Project: An environmental and permitting consultant with over 25 years of experience has been engaged. Baseline studies, to support operational design and permitting, have commenced. As a result of the financing completed on July 9, 2025, Red Pine is fully funded to complete PEA in early H1 2026 and commence the baseline studies. Michael Michaud, President and CEO of Red Pine commented: 'We are pleased with the completion of our planned 25,000 m drilling program; it has not only significantly expanded the size potential of the Wawa gold deposit, but it has also better defined the near surface mineralization providing confidence for our review of the starter pit development scenario that is ongoing. This drilling is the first step in assessing the potential of a starter open pit operation that would provide an incremental approach towards a larger open pit or underground operation. We anticipate the completion of a PEA in early H1 2026 that will outline a development scenario for the project and ultimately highlight the value of the deposit. With the successful completion of the recent financing, we are now fully funded to complete the PEA and commence the baseline studies required for the permitting process.' Ongoing Activities The Company is now working on technical and baseline studies to support operation design and permitting. This work includes metallurgical testing and geotechnical work, mine design work, updating the 2024 MRE, as well as studies covering surface water and ground water, terrestrial and aquatic life, and the geochemical characterization of the mineralized and of the waste rocks from the deposits. For guidance and advice during the permitting process, the Company has retained an environmental and permitting consultant with over 25 years of experience in environmental assessments, permitting, compliance, training, and education. Quality Assurance/Quality Control ("QA/QC") Measures Individual drill core samples are labelled and split in half along a pre-marked cutting line using a diamond saw. A consistent half-core sample is then placed in an individual plastic sample bag that is sealed. The remaining half-core samples are kept at the core storage facility of the Company located on the Wawa Gold project. Quarter-core duplicates are taken from certain samples to define the variability of gold distribution. Groups of samples are then placed into durable rice bags sealed with security seals to be transported using a commercial carrier for analysis to Actlabs in Ancaster, Ontario. NQ core assays were obtained by 50-gram fire-assaying-AA finish or by 1-kilogram screen fire assay. The 1-kilogram screen assay method is selected for samples anticipated to contain coarse gold and when the fire-assay-AA finish return results greater or equal to 2.25 g/t Au. The residual coarse reject portions of the samples remain in storage for a minimum 90-day period if further work or verification is needed. As part of its QA/QC program, Red Pine inserts external gold standards (low- to high-grade) and blanks every 20 samples and routinely insert blanks immediately after samples with visible gold. Quarter core duplicates are routinely inserted to evaluate the natural variability of gold mineralization. Assay certificates are sent to at least three members of the senior management team, and they are directly accessible from the WebLIMS portal of Actlabs. Approximately 5% of the pulps and coarse rejects analyzed at Actlabs are sent to Agat Laboratories in Thunder Bay for umpire testing. Qualified Person Jean-Francois Montreuil, and Vice President, Exploration of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release. About Red Pine Exploration Inc. Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol 'RDEXF'. The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. The Company's land package hosts numerous historic gold mines and is over 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region. For more information about the Company, visit Or contact: Michael Michaud, President and Chief Executive Officer, at (416) 364-7024 or mmichaud@ Manish Grigo, Director of Corporate Development, at (416) 569-3292 or mgrigo@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This news release contains statements which constitute 'forward-looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions. Forward-looking information contained in this news release includes, but may not be limited to, statements regarding the potential of the newly discovered high-grade shoot to extend over more than 940 m; the potential of a starter open pit operation that would provide an incremental approach towards a larger operation; the completion of a PEA in early H1 2026 that will outline a development scenario for the project and ultimately highlight the value of the deposit; and technical and baseline studies being conducted to support operation design and permitting. . Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Such opinions, assumptions and estimates are inherently subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are: the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's mineral reserves and resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and weather, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance. This information contained in this news release is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including the Company's financial statements and related MD&A for the year ended July 31, 2024, and the interim financial reports and related MD&A for the period ended January 31, 2024, April 30, 2024, October 31, 2024, January 31, 2025 and April 30, 2025, filed with the securities' regulatory authorities in certain provinces of Canada and available at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Figure 1: Longitudinal section (looking west) showing the gold mineralization in red grading greater than 1.6 g/t Au, several select assay results from recent drilling, and the 2024 MRE open pit shell and potential starter pit shells.
Associated Press
23-07-2025
- Business
- Associated Press
Red Pine Completes 2024–25 Drilling Program & Initiates Preliminary Economic Assessment Work at Wawa Gold Project
TORONTO, July 23, 2025 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) ('Red Pine' or the 'Company') is pleased to announce the completion of its 2024-25 drilling program at the Wawa Gold Project. The drilling program commenced in November 2024 and was completed at the end of June 2025. It consisted of 69 completed drill holes totaling 24,574.5 metres ('m'). Additional assays are pending. The 2024-25 drilling program achieved its two primary goals: Preliminary Economic Assessment ('PEA') work has commenced on the Wawa Gold Project: Michael Michaud, President and CEO of Red Pine commented: 'We are pleased with the completion of our planned 25,000 m drilling program; it has not only significantly expanded the size potential of the Wawa gold deposit, but it has also better defined the near surface mineralization providing confidence for our review of the starter pit development scenario that is ongoing. This drilling is the first step in assessing the potential of a starter open pit operation that would provide an incremental approach towards a larger open pit or underground operation. We anticipate the completion of a PEA in early H1 2026 that will outline a development scenario for the project and ultimately highlight the value of the deposit. With the successful completion of the recent financing, we are now fully funded to complete the PEA and commence the baseline studies required for the permitting process.' Ongoing Activities The Company is now working on technical and baseline studies to support operation design and permitting. This work includes metallurgical testing and geotechnical work, mine design work, updating the 2024 MRE, as well as studies covering surface water and ground water, terrestrial and aquatic life, and the geochemical characterization of the mineralized and of the waste rocks from the deposits. For guidance and advice during the permitting process, the Company has retained an environmental and permitting consultant with over 25 years of experience in environmental assessments, permitting, compliance, training, and education. Quality Assurance/Quality Control ('QA/QC') Measures Individual drill core samples are labelled and split in half along a pre-marked cutting line using a diamond saw. A consistent half-core sample is then placed in an individual plastic sample bag that is sealed. The remaining half-core samples are kept at the core storage facility of the Company located on the Wawa Gold project. Quarter-core duplicates are taken from certain samples to define the variability of gold distribution. Groups of samples are then placed into durable rice bags sealed with security seals to be transported using a commercial carrier for analysis to Actlabs in Ancaster, Ontario. NQ core assays were obtained by 50-gram fire-assaying-AA finish or by 1-kilogram screen fire assay. The 1-kilogram screen assay method is selected for samples anticipated to contain coarse gold and when the fire-assay-AA finish return results greater or equal to 2.25 g/t Au. The residual coarse reject portions of the samples remain in storage for a minimum 90-day period if further work or verification is needed. As part of its QA/QC program, Red Pine inserts external gold standards (low- to high-grade) and blanks every 20 samples and routinely insert blanks immediately after samples with visible gold. Quarter core duplicates are routinely inserted to evaluate the natural variability of gold mineralization. Assay certificates are sent to at least three members of the senior management team, and they are directly accessible from the WebLIMS portal of Actlabs. Approximately 5% of the pulps and coarse rejects analyzed at Actlabs are sent to Agat Laboratories in Thunder Bay for umpire testing. Qualified Person Jean-Francois Montreuil, and Vice President, Exploration of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release. About Red Pine Exploration Inc. Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol 'RPX' and on the OTCQB Markets under the symbol 'RDEXF'. The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. The Company's land package hosts numerous historic gold mines and is over 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region. For more information about the Company, visit Or contact: Michael Michaud, President and Chief Executive Officer, at (416) 364-7024 or [email protected] Or Manish Grigo, Director of Corporate Development, at (416) 569-3292 or [email protected] Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This news release contains statements which constitute 'forward-looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions. Forward-looking information contained in this news release includes, but may not be limited to, statements regarding the potential of the newly discovered high-grade shoot to extend over more than 940 m; the potential of a starter open pit operation that would provide an incremental approach towards a larger operation; the completion of a PEA in early H1 2026 that will outline a development scenario for the project and ultimately highlight the value of the deposit; and technical and baseline studies being conducted to support operation design and permitting. . Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Such opinions, assumptions and estimates are inherently subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are: the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's mineral reserves and resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and weather, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance. This information contained in this news release is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including the Company's financial statements and related MD&A for the year ended July 31, 2024, and the interim financial reports and related MD&A for the period ended January 31, 2024, April 30, 2024, October 31, 2024, January 31, 2025 and April 30, 2025, filed with the securities' regulatory authorities in certain provinces of Canada and available at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Figure 1: Longitudinal section (looking west) showing the gold mineralization in red grading greater than 1.6 g/t Au, several select assay results from recent drilling, and the 2024 MRE open pit shell and potential starter pit shells.
Yahoo
23-06-2025
- Business
- Yahoo
Red Pine Announces Upsize of Brokered Offering to $8.5 Million
Toronto, Ontario--(Newsfile Corp. - June 23, 2025) - Red Pine Exploration Inc. (TSXV: RPX) (OTCQB: RDEXF) ("Red Pine" or the "Company") is pleased to announce that, due to strong investor demand, it has entered into an amendment agreement with Research Capital Corporation as the sole bookrunner and co-lead agent, and together with Haywood Securities Inc., as co-lead agents (the "Agents") to increase the size of the previously announced brokered, best-efforts Listed Issuer Financing Exemption private placement offering (the "Offering") of securities of the Company (the "Offered Securities") to $8,500,000 in aggregate gross proceeds, in a combination of: a minimum of 12,500,000 and up to a maximum of 55,000,000 non-flow-through units of the Company (the "NFT Units") at a price of $0.10 per NFT Unit for a minimum of $1,500,000 and up to $5,500,000 in gross proceeds. Each NFT Unit will consist of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"); up to 12,500,000 flow-through units of the Company (the "FT Units") comprised of one Common Share and one-half of one Warrant. Each such Common Share and Warrant comprising a FT Unit will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). The FT Units will be issued at a price of $0.12 per FT Unit for up to $1,500,000 in gross proceeds; and up to 10,714,285 flow-through units of the Company (the "CFT Units"), comprised of one Common Share and one-half of one Warrant. Each such Common Share and Warrant comprising a CFT Unit will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Tax Act. The CFT Units will be issued as part of a charity arrangement at a price of $0.14 per CFT Unit for up to $1,500,000 in gross proceeds. Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.15 for a period of 36 months following the closing of the Offering. The gross proceeds from the sale of NFT Units will be used for working capital, general corporate purposes, and the evaluation of the potential for future open pit production at the Wawa Gold Project, including technical studies and permitting which are not considered Qualifying Expenditures (as defined below). The gross proceeds from the sale of FT Units and CFT Units will be used for exploration expenses on the Company's Wawa Gold Project in Ontario. The gross proceeds from the issue and sale of the FT Units and CFT Units will be used for Canadian exploration expenses as defined in paragraph (f) of the definition of "Canadian exploration expense" in subsection 66.1(6) of the Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Tax Act that will qualify as "flow-through mining expenditures" and "eligible Ontario exploration expenditure" as defined in subsection 103(4) of the Taxation Act, 2007 (Ontario) (the "Qualifying Expenditures"), which will be incurred on or before December 31, 2026 and renounced with an effective date no later than December 31, 2025 to the initial purchasers of FT Units and CFT Units. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each FT Units and CFT Units subscriber for any additional taxes payable by such subscriber as a result of the Company's failure to fully renounce the Qualifying Expenditures as agreed. The Offered Securities will be offered for sale pursuant to the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions in all provinces of Canada, except Quebec. The NFT Units will also be offered in other qualifying jurisdictions outside of Canada, including the United States. The NFT Units, FT Units and CFT Units offered under the Listed Issuer Financing Exemption will not be subject to a hold period under applicable Canadian securities laws. There is an amended and restated offering document (the "Offering Document") related to this Offering that can be accessed under the Company's profile at and at the Company's website at Prospective investors should read this Offering Document before making an investment decision. The Offering is anticipated to close on or about July 3, 2025 ("Closing"), or such later date as the Company and the Agents may determine. The Closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The Agents will receive a cash commission of 6% of the aggregate gross proceeds of the Offering and such number of broker warrants (the "Broker Warrants") as is equal to 6% of the number of Offered Securities sold under the Offering (in each case, subject to reduction for certain subscribers on a president's list of purchasers identified by the Company). Each Broker Warrant entitles the holder to purchase one Common Share at an exercise price equal to $0.10 for a period of 36 months following the Closing. This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws. About Red Pine Exploration Inc. Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol "RDEXF". The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. The Company's land package hosts numerous historic gold mines and is over 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region. For more information about the Company, visit Or contact: Michael Michaud, President and Chief Executive Officer, at (416) 364-7024 or mmichaud@ Or Manish Grigo, Director of Corporate Development, at (416) 569-3292 or mgrigo@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements and Information This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward‐looking statements or information relate to, among other things: receipt of all approvals related to the Offering; and the intended use of proceeds from the Offering. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the conditions to closing of the Offering may not be satisfied, management's broad discretion regarding the use of proceeds of the Offering, the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; and the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit Sign in to access your portfolio
Globe and Mail
23-06-2025
- Business
- Globe and Mail
Red Pine Announces Upsize of Brokered Offering to $8.5 Million
Toronto, Ontario--(Newsfile Corp. - June 23, 2025) - Red Pine Exploration Inc. (TSXV: RPX) (OTCQB: RDEXF) (" Red Pine" or the " Company") is pleased to announce that, due to strong investor demand, it has entered into an amendment agreement with Research Capital Corporation as the sole bookrunner and co-lead agent, and together with Haywood Securities Inc., as co-lead agents (the " Agents") to increase the size of the previously announced brokered, best-efforts Listed Issuer Financing Exemption private placement offering (the " Offering") of securities of the Company (the " Offered Securities") to $8,500,000 in aggregate gross proceeds, in a combination of: a minimum of 12,500,000 and up to a maximum of 55,000,000 non-flow-through units of the Company (the " NFT Units") at a price of $0.10 per NFT Unit for a minimum of $1,500,000 and up to $5,500,000 in gross proceeds. Each NFT Unit will consist of one common share of the Company (a " Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a " Warrant"); up to 12,500,000 flow-through units of the Company (the " FT Units") comprised of one Common Share and one-half of one Warrant. Each such Common Share and Warrant comprising a FT Unit will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the " Tax Act"). The FT Units will be issued at a price of $0.12 per FT Unit for up to $1,500,000 in gross proceeds; and up to 10,714,285 flow-through units of the Company (the " CFT Units"), comprised of one Common Share and one-half of one Warrant. Each such Common Share and Warrant comprising a CFT Unit will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Tax Act. The CFT Units will be issued as part of a charity arrangement at a price of $0.14 per CFT Unit for up to $1,500,000 in gross proceeds. Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.15 for a period of 36 months following the closing of the Offering. The gross proceeds from the sale of NFT Units will be used for working capital, general corporate purposes, and the evaluation of the potential for future open pit production at the Wawa Gold Project, including technical studies and permitting which are not considered Qualifying Expenditures (as defined below). The gross proceeds from the sale of FT Units and CFT Units will be used for exploration expenses on the Company's Wawa Gold Project in Ontario. The gross proceeds from the issue and sale of the FT Units and CFT Units will be used for Canadian exploration expenses as defined in paragraph (f) of the definition of "Canadian exploration expense" in subsection 66.1(6) of the Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Tax Act that will qualify as "flow-through mining expenditures" and "eligible Ontario exploration expenditure" as defined in subsection 103(4) of the Taxation Act, 2007 (Ontario) (the " Qualifying Expenditures"), which will be incurred on or before December 31, 2026 and renounced with an effective date no later than December 31, 2025 to the initial purchasers of FT Units and CFT Units. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each FT Units and CFT Units subscriber for any additional taxes payable by such subscriber as a result of the Company's failure to fully renounce the Qualifying Expenditures as agreed. The Offered Securities will be offered for sale pursuant to the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions in all provinces of Canada, except Quebec. The NFT Units will also be offered in other qualifying jurisdictions outside of Canada, including the United States. The NFT Units, FT Units and CFT Units offered under the Listed Issuer Financing Exemption will not be subject to a hold period under applicable Canadian securities laws. There is an amended and restated offering document (the " Offering Document") related to this Offering that can be accessed under the Company's profile at and at the Company's website at Prospective investors should read this Offering Document before making an investment decision. The Offering is anticipated to close on or about July 3, 2025 (" Closing"), or such later date as the Company and the Agents may determine. The Closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The Agents will receive a cash commission of 6% of the aggregate gross proceeds of the Offering and such number of broker warrants (the " Broker Warrants") as is equal to 6% of the number of Offered Securities sold under the Offering (in each case, subject to reduction for certain subscribers on a president's list of purchasers identified by the Company). Each Broker Warrant entitles the holder to purchase one Common Share at an exercise price equal to $0.10 for a period of 36 months following the Closing. This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws. About Red Pine Exploration Inc. Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol "RDEXF". The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. The Company's land package hosts numerous historic gold mines and is over 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements and Information This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward‐looking statements or information relate to, among other things: receipt of all approvals related to the Offering; and the intended use of proceeds from the Offering. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the conditions to closing of the Offering may not be satisfied, management's broad discretion regarding the use of proceeds of the Offering, the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; and the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. To view the source version of this press release, please visit
Yahoo
19-06-2025
- Business
- Yahoo
Red Pine Announces $7 Million Brokered Offering
Toronto, Ontario--(Newsfile Corp. - June 19, 2025) - Red Pine Exploration Inc. (TSXV: RPX) (OTCQB: RDEXF) ("Red Pine" or the "Company") is pleased to announce that it has entered into an agreement with Research Capital Corporation as the sole bookrunner and co-lead agent, and together with Haywood Securities Inc., as co-lead agents (the "Agents") in connection with a brokered, best-efforts Listed Issuer Financing Exemption private placement offering (the "Offering") of securities of the Company (the "Offered Securities") for aggregate gross proceeds to the Company of up to $7,000,000 in a combination of: a) a minimum of $1,500,000 and up to $5,500,000 in gross proceeds of non-flow-through units of the Company (the "NFT Units") at a price of $0.10 ("NFT Unit Issue Price") per NFT Unit. Each NFT Unit will consist of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"); and b) up to a maximum of $2,500,000 in gross proceeds of flow-through units of the Company (the "FT Units") at a price of $0.12 per FT Unit. Each FT Unit will consist of one Common Share that will qualify as "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") and one-half of one Warrant. Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.15 for a period of 36 months following the closing of the Offering. The Company will grant the Agents an option (the "Agents' Option") to increase the size by up to an additional 15% of the number of NFT Units sold in the Offering, by giving written notice of the exercise of the Agents' Option, or a part thereof, to the Company at any time up to two (2) business days prior to closing of the Offering. The gross proceeds from the sale of NFT Units will be used for working capital, general corporate purposes, and the evaluation of the potential for future open pit production at the Wawa Gold Project, including technical studies and permitting which are not considered Qualifying Expenditures (as defined below). The gross proceeds from the sale of FT Units will be used for exploration expenses on the Company's Wawa Gold Project in Ontario. The gross proceeds from the issue and sale of the FT Units will be used for Canadian exploration expenses as defined in paragraph (f) of the definition of "Canadian exploration expense" in subsection 66.1(6) of the Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Tax Act that will qualify as "flow-through mining expenditures" and "eligible Ontario exploration expenditure" as defined in subsection 103(4) of the Taxation Act, 2007 (Ontario) (the "Qualifying Expenditures"), which will be incurred on or before December 31, 2026 and renounced with an effective date no later than December 31, 2025 to the initial purchasers of FT Units. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each FT Units subscriber for any additional taxes payable by such subscriber as a result of the Company's failure to fully renounce the Qualifying Expenditures as agreed. The Offered Securities will be offered for sale pursuant to the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions in all provinces of Canada, except Quebec. The NFT Units will also be offered in other qualifying jurisdictions outside of Canada, including the United States. The Units offered under the Listed Issuer Financing Exemption will not be subject to a hold period under applicable Canadian securities laws. There is an offering document (the "Offering Document") related to this Offering that can be accessed under the Company's profile at and at the Company's website at Prospective investors should read this Offering Document before making an investment decision. The Offering is anticipated to close on or about June 25, 2025 ("Closing"), or such later date as the Company and the Agents may determine. The Closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The Agents will receive a cash commission of 6% of the aggregate gross proceeds of the Offering and such number of broker warrants (the "Broker Warrants") as is equal to 6% of the number of Offered Securities sold under the Offering (in each case, subject to reduction for certain subscribers on a president's list of purchasers identified by the Company). Each Broker Warrant entitles the holder to purchase one Common Share at an exercise price equal to $0.10 for a period of 36 months following the Closing. This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws. About Red Pine Exploration Inc. Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol "RDEXF". The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. The Company's land package hosts numerous historic gold mines and is over 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region. For more information about the Company, visit Or contact: Michael Michaud, President and Chief Executive Officer, at (416) 364-7024 or mmichaud@ Or Manish Grigo, Director of Corporate Development, at (416) 569-3292 or mgrigo@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements and Information This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward‐looking statements or information relate to, among other things: receipt of all approvals related to the Offering; and the intended use of proceeds from the Offering. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the conditions to closing of the Offering may not be satisfied, management's broad discretion regarding the use of proceeds of the Offering, the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; and the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
