Toronto, Ontario – November 14, 2016 – Red Pine Exploration Inc. (TSXV:RPX) (“Red Pine”) and Augustine Ventures Inc. (CSE:WAW) (“Augustine”) announce, further to their joint press release dated December 21, 2015, that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) whereby Red Pine will acquire all of the outstanding securities of Augustine (the “Transaction”) pursuant to the plan of arrangement provisions of the Business Corporations Act (Ontario) (the “Plan of Arrangement”). Red Pine and Augustine are each holders of a 30% interest in the Wawa Gold Project, a gold project located near Wawa, Ontario. Please see Red Pine’s and Augustine’s technical reports on the Wawa Gold Project, copies of which are available on www.SEDAR.com under each company’s respective profile
Upon completion of the Transaction, Augustine will become a wholly-owned subsidiary of Red Pine and Red Pine will carry on the business of the combined companies after changing its name to “Wawa Gold Inc.” (or such other name as the Board of Directors may approve) and reorganizing its board of directors (referred to in this press release as the “Resulting Issuer”). The Resulting Issuer will hold a 60% interest in the Wawa Gold Project, which was earned pursuant to an option agreement dated April 16, 2009 as amended (the “Option Agreement”) and an assignment agreement dated December 11, 2014, (the “Assignment Agreement”). The Option Agreement and Assignment Agreement can be found under Red Pine’s profile on www.SEDAR.com.
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