Red Pine Announces Closing of Upsized $8.5 Million Brokered Offering

Core Viewpoint - Red Pine Exploration Inc. has successfully closed an upsized brokered offering, raising a total of $8,500,000 through various units, aimed at funding exploration and development activities at the Wawa Gold Project in Ontario [1][4]. Group 1: Offering Details - The offering included 55,000,000 non-flow-through units (NFT Units) priced at $0.10 each, generating $5,500,000 in gross proceeds [1]. - Additionally, 12,500,000 flow-through units (FT Units) were issued at $0.12 each, raising $1,500,000, and 10,714,284 charity flow-through units (CFT Units) at $0.14 each, also raising approximately $1,500,000 [1]. - Each warrant associated with the units allows the holder to purchase one common share at an exercise price of $0.15 for 36 months [2]. Group 2: Use of Proceeds - Gross proceeds from NFT Units will be allocated for working capital, general corporate purposes, and evaluating future open pit production at the Wawa Gold Project [4]. - Proceeds from FT Units and CFT Units will specifically fund exploration expenses related to the Wawa Gold Project, qualifying under Canadian tax regulations [4]. Group 3: Agents and Commissions - Research Capital Corporation acted as the sole bookrunner and co-lead agent, with Haywood Securities Inc. as co-lead agents for the offering [2]. - The company paid a cash commission of $501,300 to the agents and granted them 4,605,857 non-transferable broker warrants [5].