Pacific Ridge Announces Effective Date of Share Consolidation
Pacific Ridge Announces Effective Date of
Share Consolidation
Vancouver, British Columbia--(Newsfile Corp. - January 21, 2025) - Pacific Ridge Exploration Ltd.
(TSXV: PEX) (OTCQB: PEXZF) (FSE: PQWN) ("Pacific Ridge" or the "Company") announces that the
previously reported consolidation (the "Consolidation")(see news release dated January 8, 2025) of its
common shares ("Common Shares") on the basis of one (1) post-Consolidation Common Share for
every ten (10) pre-Consolidation Common Shares (the "Consolidation Ratio") is anticipated to be made
effective for trading purposes on January 23, 2025.
"We believe that the Consolidation will help us attract the capital needed to explore and advance the
recently optioned portfolio of copper and gold projects located in America,"
said Blaine Monaghan,
President and CEO of Pacific Ridge.
Post Consolidation, Pacific Ridge will have approximately 17.0M
Common Shares issued and outstanding, a market capitalization under CAD$5.0M, and will own or
control eight copper projects in premier copper mining in America and Canada. We will seek partners
to continue advancing our Canadian copper projects, over $20.0M has been spent on these projects
since 2021, while we focus on the recently optioned portfolio of copper and gold projects located in
America."
The Common Shares will continue trading on the TSX Venture Exchange ("TSXV") on a post-
Consolidation basis under the name "Pacific Ridge Exploration Ltd." and the trading symbol "PEX". The
new CUSIP and ISIN of the Common Shares will be 694798604 and CA6947986049, respectively. The
Consolidation is subject to approval by the TSXV.
No fractional Common Shares will be issued in connection with the Consolidation and, in the event that a
registered shareholder would otherwise become entitled to a fractional post-Consolidation Common
Share, then such fractional share interest shall be rounded down to the nearest whole number and the
fractional share shall be eliminated.
The exercise price and the number of Common Shares
issuable under any outstanding common share
purchase warrants, stock options and any other similar securities, will be proportionately adjusted upon
the implementation of the Consolidation, in accordance with the terms of such securities, based on the
Consolidation Ratio.
About Pacific Ridge
Pacific Ridge is one of North America's leading copper exploration companies. We own or control eight
copper projects in premier copper mining districts located in America and Canada.
On behalf of the Board of Directors,
"Blaine Monaghan"
Blaine Monaghan
President & CEO
Pacific Ridge Exploration Ltd.
Investor Relations:
Tel: (604) 687-4951
Email:
Website:
www.pacificridgeexploration.com
LinkedIn:
https://www.linkedin.com/company/pacific-ridge-exploration-ltd-pex-/
Twitter:
https://twitter.com/PacRidge_PEX
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.
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,
are forward-looking statements. Forward looking statements in this news release include plans to
complete the Consolidation and the anticipated effective date thereof. 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. These statements are
based on a number of assumptions including, among other things, assumptions that TSXV approval
will be granted in a timely manner subject only to standard conditions; that all conditions precedent to
the completion of the Consolidation will be satisfied in a timely manner; 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 because of new information,
future events or otherwise, except as required by applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/237904