Golden Ridge Announces Credit Facility with MM Group Ltda.
GOLDEN RIDGE RESOURCES LTD.
301 – 1665 Ellis Street Kelowna, BC V1Y 2B3
T: 250-717.3151
www.goldenridgeresources.com
Golden Ridge Announces Credit Facility with MM Group Ltda.
November 29, 2024 TSX-V: GLDN
GOLDEN RIDGE RESOURCES LTD. (TSX-V: GLDN) ("Golden Ridge" or the "Company") announces that in connection with
its previously announced acquisition (the “ Proposed Transaction”) of 80% of the issued and outstanding membership
interests in MM Group Ltda. (“MMG”) it has entered into a credit facility agreement dated November 29, 2024, pursuant
to which the Company has agreed to advance to MMG up to an aggregate of $950,000 (the “ Loan”). The Loan bears
interest at a rate of 8% per annum and matures on July 30, 2025. The repayment of the Loan is secured against the assets
of MMG and is subsidiaries and guaranteed by certain MMG members. The Company anticipates making a minimum initial
advance on the Loan of $250,000 in mid-December 2024, all in compliance with the policies of the TSX Venture Exchange
(the “Exchange”).
About Golden Ridge
Golden Ridge is a TSX -V listed exploration company engaged in acquiring and advancing mineral properties located in
British Columbia and Newfoundland. Golden Ridge owns a 100% interest in the 1,700 -hectare Hank copper-gold-silver-
lead-zinc property located in the Golden Triangle district, approximately 140 kilometres north of Stewart, British Columbia
and has a portfolio of exploration projects in Newfoundland.
At the Company's request, trading in Golden Ridge’s shares was voluntarily halted in June 2024 upon the Company
entering into a definitive agreement with MMG. Trading is expected to remain halted until the completion or
abandonment of the proposed transaction.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN RIDGE RESOURCES LTD.
“Mike Blady”
Mike Blady
President and Chief Executive Officer
For more information regarding this news release, please contact:
Mike Blady, CEO and Director
T: 250-717.3151
W: www.goldenridgeresources.com
Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, Exchange
acceptance and if applicable pursuant to Exchange requirements, disinterested approval. Where applicable, the
GOLDEN RIDGE RESOURCES LTD.
301 – 1665 Ellis Street Kelowna, BC V1Y 2B3
T: 250-717.3151
www.goldenridgeresources.com
Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that
the Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be
prepared in connection with the Proposed Transaction, any information released or received with respect to the
Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Golden
Ridge should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction and has neither
approved nor disapproved the contents of this press release.
Forward Looking Information
This press release contains “forward -looking information” within the meaning of applicable Canadian securities
legislation. Generally, forward -looking information can be identified by the use of forward -looking terminology such as
“plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations (including negative and grammatical variations) of
such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”,
“occur” or “be achieved”.
Forward-looking information in this press release may include, without limitation, statements relating to the Proposed
Transaction and the Loan, including the terms and the timing thereof, and all other statements that are not historical
in nature.
These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks
regarding the mining industry, commodity prices, market conditions, general economic factors, management’s ability
to manage and to operate the business, and explore and develop its projects, and the equity markets generally. Because
of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or
performance of Golden Ridge may differ materially from those anticipated and indicated by these forward -looking
statements. Any number of factors could cause actual results to differ materially from these forward-looking statements
as well as future results. Although Golden Ridge believes that the expectations reflected in forward looking statements
are reasonable, they can give no assurances that the expectations of any forward -looking statements will prove to be
correct. Except as required by law, Golden Ridge disclaims any intention and assume no obligation to update or revise
any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes
in assumptions, changes in factors affecting such forward -looking statements or otherwise.
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 the contents of this press release.