Red Pine Exploration, a Canadian gold exploration company, intends to raise $6.3 million in a private placement offering.
Under the move, Red Pine agreed with Haywood Securities Inc., as a co-lead agent and sole bookrunner, on behalf of 3L Capital Inc. on the offering, which will consist of any combination of its units at $0.20 per unit.
Moreover, the company aims to use the funds to back its ongoing exploration at the Wawa Gold Project, for working capital and general corporate purposes.
Subject to certain closing conditions, the private placement offering is anticipated to complete on or about April 25, 2023.