Red Pine Exploration Inc. Announces Shares for Debt Transaction
Toronto, Ontario – April 26, 2017 – Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or “the Company”) has agreed to settle certain obligations (the “Debt”) its wholly-owned subsidiary, Augustine Ventures Inc. (“Augustine”), has incurred to the directors of Augustine, with the issuance of common shares of the Company (the “Common Shares”). Effective April 25, 2017, the Company and the Augustine directors entered into debt settlement agreements which provides that the aggregate amount of the Debt owed by Augustine is $272,256.04 and will be settled by the issuance of 2,268,802 common shares of the Company at a deemed price of $0.12 per Common Share (the “Shares for Debt Transaction”). The issuance of the Common Shares is subject to the receipt of all applicable regulatory approvals, including the TSX Venture Exchange. The Common Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a four-month hold period.
More information about the Company can be found at www.sedar.com
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company’s common shares trade on the TSX Venture Exchange under the symbol “RPX”.
Red Pine has a 60% interest in the Wawa Gold Project with Citabar LLP. holding the remaining 40% interest. Red Pine is the Operating Manager of the Project and is focused on expanding the existing gold resource on the property.
For more information about the Company visit www.redpineexp.com
Or contact:
Quentin Yarie, President & COO, (416) 364-7024, qyarie@redpineexp.com
Or Mia Boiridy, Investor Relations, (416) 364-7024, mboiridy@redpineexp.com
NT3
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