December 20, 2017 / 9:09 PM / 6 months ago

BRIEF-Red Pine Provides Update To Proposed Change Of Business

Dec 20 (Reuters) - Red Pine Petroleum Ltd:

* RED PINE PROVIDES UPDATE TO PROPOSED CHANGE OF BUSINESS

* RED PINE PETROLEUM- WILL CONSOLIDATE ISSUED, OUTSTANDING COMMON SHARES ON BASIS OF 10 PRE-CONSOLIDATION SHARES FOR 1 POST-CONSOLIDATION SHARE

* RED PINE PETROLEUM - WISHES TO CONFIRM THAT IT IS GOING FORWARD WITH PLANNED PROPOSED CHANGE OF BUSINESS FROM “OIL AND GAS ISSUER” TO “TECHNOLOGY ISSUER”

* RED PINE PETROLEUM LTD SAYS WILL ARRANGE A PRIVATE PLACEMENT OF UP TO $2 MILLION BY ISSUING UP TO 40 MILLION UNITS AT $0.05/UNIT

* RED PINE PETROLEUM - RECEIVED SUBSCRIPTION FROM BEIJING QINGYANJIUZHOU TOURISM FOR 30.2 MILLION UNITS AT $0.05 PER UNIT FOR $1.5 MILLION Source text for Eikon: Further company coverage:

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