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  • Pacific Ridge Exploration (PEX) has announced a private placement for gross proceeds of C$11,485,000
  • The company has signed an agreement with Sprott Capital Partners LP as the lead agent on behalf of a syndicate of agents
  • The offering has three arms made up of 8,900,000 units, 6,250,000 flow-through units, and 16,650,000 charity flow-through units
  • Pacific Ridge Exploration Ltd. is a mineral exploration company which aims to become British Columbia’s leading copper-gold exploration company
  • Pacific Ridge Exploration Ltd. opened trading at $0.35 per share

Pacific Ridge Exploration (PEX) has announced a private placement for gross proceeds of C$11,485,000.

The company has signed an agreement with Sprott Capital Partners LP as the lead agent on behalf of a syndicate of agents to this effect.

The offering will have three arms.

This first will be a private placement financing of 8,900,000 units at $0.28 per unit. 

The second is 6,250,000 units issued on a flow-through basis at $0.32 per FT unit.

The third is 16,650,000 units issued on a charity flow-through basis at $0.42 per Charity FT unit.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant.

Each FT Unit and Charity FT Unit will consist of one common share, each to be issued as a “flow-through share” under the Income Tax Act (Canada), and one-half of one warrant.

Each warrant will entitle the holder to purchase one common share at an exercise price of $0.40 for a period of 2.0 years from the date of issuance.

The net proceeds from the sale of the units will be used for general and administrative expenses.

The gross proceeds from the sale of the FT Units and Charity FT Units will be used to incur eligible expenses that are “Canadian exploration expenses.”

The offering is expected to close on or about December 15, 2022.

Pacific Ridge Exploration Ltd. is a mineral exploration company which aims to become British Columbia’s leading copper-gold exploration company.

Pacific Ridge Exploration Ltd. opened trading at $0.35 per share.


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