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TORONTO, ONTARIO--(Marketwire - Aug. 25, 2010) - Red Pine Exploration Inc. ("Red Pine" or the "Company") (TSX VENTURE:RPX) announces the closing of a private placement financing (the "Offering") for total gross proceeds of $1,155,000 on August 24, 2010. Pursuant to the Offering, the Company issued 14,437,500 units (the "Units") at a price of $0.08 per Unit. Each Unit is comprised of one "flow through" common share and one half of one non-flow through common share purchase warrant. Each full warrant entitles the holder to purchase one common share of the Company for $0.15 per share and expires 24 months from the date of closing. |
