Big Ridge Announces Closing of $7.0 Million Non-Brokered Private Placement Supported by Strategic Shareholders, with Michael Gentile Increasing His Position to 19.9%
Big Ridge Announces Closing of $7.0 Million
Non-Brokered Private Placement Supported by
Strategic Shareholders, with Michael Gentile
Increasing His Position to 19.9%
Toronto, Ontario--(Newsfile Corp. - July 7, 2026) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB:
ALVLF) ("
Big Ridge
" or the "
Company
") announced that it has closed its previously announced non-
brokered private placement (the "
Offering
") of 23,333,333 units (the "
Units
") of the Company at a price
of C$0.30 per Unit, for aggregate gross proceeds of $7,000,000.
Each Unit consists of one common share (a "
Share
") of the Company and one common share purchase
warrant (a "
Warrant
") of the Company. Each Warrant is exercisable into one common share of the
Company at a price of C$0.46 per common share and expires on July 7, 2029. The Company intends to
use the net proceeds of the Offering to fund exploration of the Hope Brook Gold Project and for general
corporate overhead.
In conjunction with the Offering, Mr. Michael Gentile has acquired 18,103,333 Units such that, upon
closing of the Offering, Mr. Gentile owns approximately 19.9% of the issued and outstanding common
shares of the Company on a partially diluted basis assuming full exercise of his warrants.
Big Ridge CEO, Mike Bandrowski, commented: "Michael Gentile's support comes at a pivotal time for
the Company as we build out the Big Ridge team in anticipation of our first drill program in 3 years and
continue advancing environmental and engineering studies at Hope Brook. This Offering puts us in an
excellent financial position to complete the Preliminary Economic Assessment, exploration and
geotechnical drilling and finalize several ongoing environmental studies."
The Offering was made by way of private placement in Canada and the securities issued under the
Offering are subject to a four month hold period under applicable securities laws in Canada.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities
described herein in the United States. The securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States or to the account or benefit of a U.S. person absent an exemption from the
registration requirements of such Act.
About Big Ridge
Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and
experienced team of officers and directors. The Company is committed to the development of advanced
stage mining projects using industry best practices combined with strong social licence from local
communities. Big Ridge owns a 100% interest in its flagship Hope Brook Gold Project, located in
Newfoundland and Labrador. Big Ridge also owns a 100% interest in the highly prospective Oxford Gold
Project located in Manitoba and the Destiny Gold Project in Quebec.
Acknowledgement
Big Ridge acknowledges and appreciates the Newfoundland and Labrador Ministry of Natural
Resources' financial support of the Company's 2023 exploration programs through the Junior
Exploration Assistance (JEA) Program.
For more details regarding the Company's projects, please visit our website at
www.bigridgegold.com
.
ON BEHALF OF THE BOARD,
Mike Bandrowski,
President & CEO
BIG RIDGE GOLD CORP.
18 King St. East, Suite 1400
Toronto, ON, M5C 1C4
Tel: 416-540-5480
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable Canadian securities
legislation. These forward-looking statements are made as of the date of this news release. Forward-
looking statements are frequently, but not always, identified by words such as "expects", "anticipates",
"believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy",
"goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and
similar expressions.
Forward-looking statements in this news release relate to future events or future performance and reflect
current estimates, predictions, expectations or beliefs regarding future events, and include, without
limitation, statements with respect to Big Ridge's intentions with respect to Caprock's shares. All
forward-looking statements are based on Big Ridge's and its employees' current beliefs as well as
various assumptions made by them and information currently available to them. There can be no
assurance that such statements will prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Forward-looking statements reflect the beliefs,
opinions and projections on the date the statements are made and are based upon a number of
assumptions and estimates that, while considered reasonable by the respective parties, are inherently
subject to significant business, economic, competitive, political and social uncertainties and
contingencies. Many factors, both known and unknown, could cause actual results, performance or
achievements to be materially different from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements and the parties have made assumptions and
estimates based on or related to many of these factors. When relying on our forward-looking statements
to make decisions with respect to Big Ridge, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events. Big Ridge does not undertake to update
any forward- looking statement, whether written or oral, that may be made from time to time by the
Company or on our behalf, except as required by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/304226