Red Pine Exploration Completes Shares for Debt Transaction

Red Pine Exploration Completes Shares for Debt Transaction

TORONTO, Oct. 25, 2017 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX-V:RPX) ("Red Pine" or the "Company") announces the completion of the shares-for-debt settlement transaction previously announced in the October 12, 2017 press release by issuing 146,209 common shares of the Company to certain subscribers of its flow-through shares at a deemed price of $0.11 per share. The common shares are subject to a four-month hold period.

The Company may settle further debt obligations, relating to its obligation to indemnify subscribers of its flow-through shares, through the issuance of additional securities, although there can be no assurances that the Company will be able to reach settlement agreements with any other indemnified parties in this regard.

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 & CEO, (416) 364-7024, [email protected]

Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as ?may?, ?should?, ?expects?, ?plans?, ?anticipates?, ?believes?, ?estimates?, ?predicts?, ?potential? or ?continue? or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.