Red Pine Closes C$5,235,693 “Bought Deal” Private Placement of Tranche 1 Flow-Through Shares and Tranche 2 Flow-Through Shares

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TORONTO, Dec. 07, 2023 (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$5,235,693 including partial exercise of the Underwriters’ Option (as defined in the press release of the Company dated November 16, 2023). The Offering consisted of (i) 19,252,785 tranche 1 flow-through common shares (the “Tranche 1 FT Shares”) of the Company at a price of C$0.22 per Tranche 1 FT Share, and (ii) 3,704,000 charity tranche 2 flow-through common shares (the “Tranche 2 FT Shares” and together with the Tranche 1 FT Shares, the “Offered FT Shares”) of the Company at a price of C$0.27 per Tranche 2 FT Share.

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