By Devika Patel
Knoxville, Tenn., Nov. 20 - Red Pine Exploration Inc. said it plans a C$2.53 million private placement of units. Part of the deal will be conducted by an agent; the remainder will be non-brokered.
The company will sell 17 million flow-through units at C$0.09 apiece and 12.5 million units at C$0.08 per unit.
Each flow-through unit consists of one common share and one half-share warrant; each unit consists of one common share and one warrant.
The whole warrants are exercisable at C$0.15 for two years.
Proceeds will be used for exploration and general corporate purposes.
Red Pine Exploration is a gold explorer in Ottawa, Ont.
| Issuer: | Red Pine Exploration Inc.
|
| Issue: | Flow-through units of one common share and one half-share warrant, units of one common share and one warrant
|
| Amount: | C$2.53 million
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered and brokered
|
| Pricing date: | Nov. 20
|
| Stock symbol: | TSX Venture: RPX
|
| Stock price: | C$0.09 at close Nov. 19
|
| Market capitalization: | C$7.93 million
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 12.5 million
|
| Price: | C$0.08
|
| Warrants: | One warrant per unit
|
|
|
| Flow-through units
|
| Amount: | C$1.53 million
|
| Units: | 17 million
|
| Price: | C$0.09
|
| Warrants: | One half-share warrant per unit
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
