Crescat, Delphi to Fund Additional Drilling at Pacific Ridge's Kliyul Copper-Gold Project
Crescat, Delphi to Fund Additional Drilling at
Pacific Ridge's Kliyul Copper-Gold Project
Vancouver, British Columbia--(Newsfile Corp. - September 4, 2022) - Pacific Ridge Exploration Ltd.
(TSXV: PEX) ("
Pacific Ridge
" or the "
Company
") plans to increase the size of the previously
announced non-brokered private placement (see news release dated September 2, 2022) by 1,000,000
units to 3,391,305 units at a price of $0.23 per unit ("
Unit
") for gross proceeds of up to $780,000 (the
"
Financing
"). DELPHI Unternehmensberatung Aktiengesellschaft, Pacific Ridge's second largest
shareholder, intends to acquire the additional 1,000,000 Units. Crescat Capital LLC, the Company's
largest shareholder, intends to acquire the remaining 2,391,305 Units.
Proceeds from this Financing will be used for additional drilling at the Kliyul copper-gold project, located
in northcentral B.C., and for general working capital.
Each Unit will be comprised of one common share of the Company and one-half of one common share
purchase warrant, with each whole warrant exercisable to purchase one additional common share at an
exercise price of $0.35 for a period of 2 years. The Financing is subject to TSX Venture Exchange
acceptance.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.
About Pacific Ridge
Our goal is to become British Columbia's leading copper-gold exploration company. Pacific Ridge's
flagship project is the Kliyul copper-gold project, located in the prolific Quesnel Trough, approximately 50
km southeast of Centerra Gold Inc.'s Kemess mine. In addition to Kliyul, the Company's project portfolio
includes the RDP copper-gold project (optioned to Antofagasta Minerals S.A.), the Chuchi copper-gold
project, the Onjo copper-gold project, and the Redton copper-gold project, all located in British
Columbia.
On behalf of the Board of Directors,
"Blaine Monaghan"
Blaine Monaghan
President & CEO
Pacific Ridge Exploration Ltd.
Corporate Contact:
Blaine Monaghan
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
https://www.linkedin.com/company/pacific-ridge-exploration-ltd-pex-
https://twitter.com/PacRidge_PEX
Investor Contact:
G2 Consultants Corp.
Telephone: +1 778-678-9050
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.
The technical information contained within this News Release has been reviewed and approved by Gerald G. Carlson, Ph.D., P.Eng., Executive
Chairman of Pacific Ridge and Qualified Person as defined by National Instrument 43-101 policy.
Forward-Looking Information:
This release includes certain statements that may be deemed "forward-looking statements". All statements in
this release, other than statements of historical facts, that address exploration drilling and other activities and events or developments that Pacific
Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Forward-looking statements in this news release
include statements regarding additional drilling at Kliyul and the closing of the Financing. Although Pacific Ridge believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance
and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and
financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among
other things, assumptions regarding general business and economic conditions, that one of the options will be exercised, the ability of Pacific
Ridge and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Pacific
Ridge's proposed programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors
are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from
those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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IN THE UNITED STATES
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