{"id":1157756,"date":"2019-12-31T13:05:07","date_gmt":"2019-12-31T19:05:07","guid":{"rendered":"https:\/\/www.mining.com\/?p=1010286"},"modified":"2019-12-31T13:05:07","modified_gmt":"2019-12-31T19:05:07","slug":"red-pine-secures-c3-78m-financing-welcomes-alamos-as-shareholder","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1157756","title":{"rendered":"Red Pine secures C$3.78m financing, welcomes Alamos as shareholder"},"content":{"rendered":"<p>Red Pine Exploration (TSXV: RPX) <a href=\"https:\/\/www.globenewswire.com\/news-release\/2019\/12\/31\/1965359\/0\/en\/Red-Pine-Exploration-Inc-Announces-Closing-of-C-3-779-722-Private-Placement-Financing-and-Welcomes-Alamos-Gold-as-a-Strategic-Investor.html\"  rel=\"noreferrer noopener\" aria-label=\"announced Tuesday (opens in a new tab)\">announced Tuesday<\/a> it has closed a private placement of approximately 25.9 million flow-through (FT) units and 82.1 million non-flow-through (NFT) units of the company &#8212; both at a price of C$0.035 per unit &#8212; for aggregate gross proceeds of C$3.78 million.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Each FT unit comprises one flow-through common share of the company and one-half of one non-flow-through common share purchase warrant. Each NFT unit comprises one common share (issued on a non-flow-through basis) and one whole warrant. A full warrant is exercisable for one common share at a price of C$0.05 per share for a period of 24 months following the offering closing date.<\/p>\n<p>Among the participants of the offering was Toronto-based gold producer Alamos Gold (TSX: AGI), which subscribed for nearly 53 million NFT units for a total investment of C$1.85 million. Alamos now owns 11.1% of Red Pine&#8217;s issued and outstanding common shares on an undiluted basis and 19.99% on a partially diluted basis. Alamos did not hold any common shares of Red Pine prior to the offering.<\/p>\n<p>\u201cThe addition of Alamos as a strategic investor is a major step in validating the Wawa gold project as a top-tier exploration property,\u201d Red Pine CEO Quentin Yarie commented on the latest investment boost.<\/p>\n<p>The Wawa property &#8212; covering 6,519 hectares within McMurray Township, approximately two kilometres southeast of Wawa, Ontario &#8212; has hosted numerous gold mines with past production of over 120,000 ounces. A recent <a aria-label=\"technical report (opens in a new tab)\" rel=\"noreferrer noopener\" href=\"https:\/\/www.northernminer.com\/fast-news\/red-pine-unveils-resource-estimates-on-two-deposits-in-less-than-a-year\/1003807280\/\" >technical report<\/a> pegs indicated resources at 1.2 million tonnes grading 5.31 grams gold per tonne for 205,000 ounces of gold.<\/p>\n<p>The project is 60% owned by Red Pine, with Citabar LP holding the remaining 40% interest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alamos did not hold any common shares of Red Pine prior to the private placement.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1157756"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1157756"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1157756\/revisions"}],"predecessor-version":[{"id":1157768,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1157756\/revisions\/1157768"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1157756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1157756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1157756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}