Wawa-news.com Local and Regional News
Red Pine Exploration Inc. further to its press release dated August 20 th 2021 announces the completion of the sale of all of Red Pine’s Algoma-Talisman gold prospective property located in Newton Township, Ontario to Newton Gold Corp. for a total purchase price of CAD $1,050,000. Red Pine has now received the remaining CAD $500,000 of the cash portion of the Purchase Price payable by Newton in connection with the Transaction. In addition, Newton has granted a net smelter royalty of 1.5% from mineral production on the Property to Red Pine, which can be repurchased by Newton for CAD $500,000.
Red Pine plans to use the proceeds from the sale of the property to continue to fund the expanded exploration program at its Wawa Gold Project.
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