Golden Ridge Resources Announces $1.45M Financing with a Strategic Investment from Eric Sprott
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
News Release
Golden Ridge Resources Announces $1.45M Financing with a Strategic Investment from Eric Sprott
June 25, 2021 TSX-V: GLDN
GOLDEN RIDGE RESOURCES LTD. (TSX -V: GLDN) ("Golden Ridge " or the " Company") is pleased to announce it
intends to complete a non -brokered private placement financing for $1,450,000 (the “ Offering”), including a strategic
investment by Eric Sprott.
The Offering will include 5,370,370 units (each a “Unit”) at a price of $0.27 per Unit. Each Unit will comprise of one common
share and one-half of one common share purchase warrant (each whole warrant at “Warrant”) of Company. Each Warrant
will entitle each subscriber to purchase one additional common share for a 24-month period from the date of issuance at an
exercise price of $0.50 per common share.
Proceeds raised from the Offering will be used for general working capital and to further the Company’s Newfoundland
project portfolio. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory and other approvals, including the approval of the TSX Venture Exchange .
All securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period from the date
of issuance under applicable securities laws.
Mr. Sprott, the subscriber in the Offering, is considered a related party of the Company under Multilateral Instrument 61 -
101 as a result of him owning more than 10% of the currently issued and outstanding common shares of the Company. As
a result, the issuance of common shares to Mr. Sprott, pursuant to the Offering, will be considered a related party
transaction. The Company will be relying on exemptions from the formal valuation and minority s hareholder approval
requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61 -101 on the basis that participation in
the Offering by Mr. Sprott does not exceed 25% of the fair market value of the Company's market capitalization.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended,
and no such securities may be offered or sold in the United States absent registration or an applicable exemption fr om the registration
requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Golden Ridge
Golden Ridge is a TSX -V listed exploration company engaged in acquiring and advancing mineral properties located in
Newfoundland and British Columbia. Golden Ridge is currently focused on exploration and development of its portfolio of
exploration assets in Newfoundland. The company owns a 100% interest in the 1,700 -hectare Hank copper -gold-silver-
lead-zinc property and the 3,000 hectare Hickman copper -gold property located in the Golden Triangle district,
approximately 140 kilometres north of Stewart, British Columbia and has a portfolio of exploration projects in Newfoundland.
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
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
Cautionary Note Regarding Forward-Looking Statements
This news release contains statements that constitute "forward-looking Information", as such term is used in applicable Canadian securities laws . Such
forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance
or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expr essed or implied by
such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified
by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions
"will," "would," "may," "could" or "should" occur.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date
hereof, by its nature forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause
our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking information. There can be no assurance that the Fundamental Acquisition will be completed
as proposed or at all.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic
conditions; the Covid -19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the
Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments
in the mining sector; the Company ’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on
favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the
risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned wor k, risks associated with the
interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consi stent with the Company’s
expectations, as well as other assumptions risks and uncertainties applicable t o mineral exploration and development activities and to the Company,
including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS
OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE
UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE.
WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS
REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Neither the TSX Venture Exchange nor its Regulation Se rvices Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.