Red Pine Exploration Publishes First Annual ESG Report and Engages Hybrid Financial
TORONTO, March 14, 2022 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to announce the publication of its inaugural 2021 Environmental, Social and Governance (“ESG”) Report. Related information regarding the Company’s governance, risk management, commitments and performance are outlined within this report. The report marks an important milestone for the Company as it seeks to establish itself as a sustainable growth player in the mineral exploration sector in the Michipicoten Greenstone Belt of Ontario and create a resilient future operation as the Wawa Gold Project drilling program expands.
Red Pine’s inaugural ESG report will focus on sustainable reporting, enhancing our relations within the community and Indigenous partners, promoting diversity within our employees and corporate governance. The Company’s ESG report will be a valuable tool for investors and stakeholders, as they review Red Pine’s key material ESG topics. The 2021 ESG Report has been made available to the public on the Company’s website, found under the Reports section, and linked here: https://www.redpineexp.com/reports
Red Pine’s Y2021 ESG Report highlights significant progress achieved by the Company during the past year and future benchmarks, including:
- Red Pine is currently involved in Surface Water Monitoring in the Parkhill and Darwin-Grace areas of the property for any run-off that may enter Trout Creek or eventually into the Michipicoten River System.
- Red Pine has a mutually agreed upon consultation process to identify adverse impacts to Aboriginal and treaty rights, and engage with respect to accommodation, with an aim to establish a mutually beneficial, positive, and productive relationship.
- The Company’s objective is to develop a mutually beneficial and respectful relationship with local communities within the direct area of interest of the mineral concessions in Wawa.
- Red Pine is currently in the process of completing a Mine Closure Plan. Under this Closure Plan, the Company is in the monitoring stage of vegetation and lake biodiversity. The current Wawa Gold Project is a brownfield site with 8 historic gold mines on the property dating back to the late 1800's.
“The initiation of the ESG process was a crucial aspect of Red Pine’s vision, as we commit ourselves to operating responsibly and remain accountable to the highest environmental, social and governance standards. The Company is proud of its substantial first efforts to disclose our practices and performance in ESG in a formal context as we continue to competently advance our exploration program at the Wawa Gold Project.” – Quentin Yarie, President and CEO Red Pine Exploration.
Furthermore, Red Pine is pleased to announce that it has retained Hybrid Financial Ltd. (“Hybrid”) to provide marketing services to the Company. Hybrid has been engaged to heighten market and brand awareness for Red Pine and to broaden the Company's reach within the investment community.
Hybrid has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange (the “TSXV”) in providing the Services. Hybrid has been engaged by the Company for an initial period of 12 months starting, March 15th, 2022 (the “Initial Term”) and then shall be renewed automatically for successive 6-month periods thereafter, unless terminated by the Company in accordance with the Agreement. Hybrid will be paid a monthly fee of $15,000, plus applicable taxes, during the Initial Term.
In addition, Red Pine has engaged Haywood Securities Inc. ("Haywood") for its market-making service to aid in maintaining an orderly trading market for the common shares of the company.
The market-making service will be undertaken by Haywood to provide market stabilization and liquidity services in respect of Red Pine's listed securities. Under the market making services agreement Haywood will affect trading, on a reasonable best-efforts basis, of the Company's securities in a manner intended to correct temporary imbalances in their supply and demand. Haywood will provide such services in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the Company has agreed to pay Haywood $5,000 per month for a minimum period of 12 months, subject to earlier termination. The agreement may be terminated at any time by the Company or Haywood provided that the terminating party provides 30 days' prior written notice of such intention to terminate.
The Company and Haywood act at arm's length, and Haywood has no present interest, directly or indirectly, in the Company or its securities except that its clients and members of its pro group may own shares of the Company from time to time. The finances and the shares required for the market-making service are provided by Haywood, an arm's length party to the Company. The fee paid by the Company to Haywood is for services only. Haywood's head office is located in Vancouver, British Columbia at Suite 700 Waterfront Center, 200 Burrard Street.
COVID-19 Precautions
Red Pine has developed and implemented compliant precautions and procedures according to guidelines for the Province of Ontario. Protocols were put in place to ensure our employees’ and contractors’ safety, thereby reducing the potential for community contact and spreading of the virus.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol “RDEXF”.
The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,900 hectares in size. The Company’s Chairman of the Board is Paul Martin, the former CEO of Detour Gold. The Board has extensive and diverse experience at such entities as Alamos, Barrick, Generation Mining, Detour Gold and Paramount Gold Nevada Corp. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region.
For more information about the Company, visit www.redpineexp.com
Or contact:
Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com
Or
Tara Asfour, Investor Relations Manager, (514) 833-1957, tasfour@redpineexp.com
1 National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, report effective August 18, 2021.
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.
