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Red Pine Exploration Announces Proposed New Investment by Merk Investments LLC
TORONTO, April 06, 2023 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) ("Red Pine" or the "Company"), further to its news releases of M
About this update from Rpx Gold Inc.
[{"type":"text","content":" TORONTO, April 06, 2023 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (\"Red Pine\" or the \"Company\"), further to its news releases of March 31, 2023, is pleased to announce that Merk Investments LLC (“Merk”) has expressed its interest in participating in the Company’s previously announced private placement (the “Upsized Offering”). It is anticipated that Merk will purchase securities under the Upsized Offering such that it will own approximately 9.9% and 14.2% of the pro forma issued and outstanding shares of the Company, on a basic and partially diluted basis, respectively. Prior to the Upsized Offering, Merk did not own any securities of Red Pine. The Upsized Offering is being completed on a “best efforts” agency basis for up to $6,800,000, with an agents’ option to sell up to an additional $945,000. Please see the news releases of the Company dated March 31, 2023 for further information on the Upsized Offering. There can be no assurances the Upsized Offering will be completed in full, or at all. About Merk: Merk is an investment management firm that provides advisory services to investment companies and clients. Merk’s investment objective is to achieve superior risk-adjusted returns by seeking to deliver uncorrelated returns using alternative strategies that seek optimal profit potential within tailored investment objectives. Merk provides investment advice on liquid global markets, including domestic and international equities, fixed income, commodities and currencies and their respective derivative markets. Merk has several investment strategies, including (i) gold strategy, (ii) gold equities strategy, (iii) currency strategies, (iv) quantitative FX program, and (v) stagflation strategy. Quentin Yarie, CEO of Red Pine commented, “We are pleased to welcome Merk as a significant shareholder and supporter. We are excited at the prospect of continuing to expeditiously explore and advance the Wawa Gold Project with the funds we propose to raise under the Upsized Offering and believe that we are well positioned to deliver significant shareholder value.” Peter Maletis, Vice President – Gold & Precious Metals Research, Portfolio Manager of Merk commented, “We believe that Red Pine is just scratching the surface at its Wawa Gold Project and are excited to be welcomed into the share regis...