Red Pine Exploration Inc. Announces Results of Annual Shareholder Meeting

TORONTO, March 11, 2020 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Corporation”) is pleased to announce the results of its annual and special meeting of Shareholders (the “Meeting”) held today in Toronto, Ontario.  All resolutions were approved with more than the required majority (all greater than 82%). At the Meeting, the shareholders:

• re-elected Drew Anwyll, Andrew Baumen, Robert Dodds, Peter Kampian, and Quentin Yarie as directors of the Corporation;
• re-appointed MNP, LLP, Chartered Accountants as auditors of the Corporation to hold office until the next annual meeting of shareholders, and to authorize the directors to fix their remuneration;
• approved a resolution re-approving the Corporation’s stock option plan; and
• authorized a consolidation (the “Consolidation”) of the Corporation’s outstanding common shares on the basis of up to one (new) for ten (old) Common Shares (up to 1:10). The resolution provided the Board of Directors (the “Board”) with the discretion to determine the actual Consolidation basis within this range. The Board was also given the discretion not to proceed with the Consolidation if it is deemed to be in the best interests of the Corporation not to do so.

Following the Meeting, the Board of Directors made the following appointments to committees of the Board:

• Audit and Corporate Governance Committee – Peter Kampian (Chair), Drew Anwyll and Andrew Baumen;
• Compensation Committee – Drew Anwyll (Chair), Peter Kampian and Robert Dodds; and
• Technical Committee – Andrew Baumen (Chair), Drew Anwyll and Robert Dodds.

About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Corporation's common shares trade on the TSX Venture Exchange under the symbol "RPX".

Red Pine has a 64.5% interest in the Wawa Gold Project with Citabar LP. holding the remaining 35.5% interest. Red Pine is the operating manager and is focused on expanding and delineating the gold resource on the property.

For more information about the Corporation visit www.redpineexp.com

Or contact:  
Quentin Yarie, CEO, (416) 364-7024, qyarie@redpineexp.com

Or Mia Boiridy, President, (416) 364-7024, mboiridy@redpineexp.com

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 Corporation 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 Corporation 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.