Pacific Ridge Announces Flow Through Financing
Pacific Ridge Announces Flow Through
Financing
Vancouver, British Columbia--(Newsfile Corp. - July 14, 2020) - Pacific Ridge Exploration Ltd. (TSXV:
PEX) ("Pacific Ridge" or the "Company") announces that it is proposing to issue up to 4,000,000 units in
a flow-through private placement at a price of $0.075 per unit ("FT Unit") for gross proceeds of
$300,000. Each FT Unit will be comprised of one common share of the Company that qualifies as a
"flow-through share" for the purposes of the Income Tax Act (Canada) (an "FT Unit Share") and one-half
of one common share purchase warrant, with each whole warrant exercisable to purchase one additional
non-flow-through common share at an exercise price of $0.12 for a period of 18 months, subject to the
following acceleration provision: if at any time after 4 months from the date of issue of the warrants the
closing market price of the Company's common shares on the TSX Venture Exchange is greater than
$0.35 per share for 20 consecutive trading days (the "Triggering Event"), the Company may, within 5
days of the Triggering Event, accelerate the expiry date of the warrants by giving notice thereof to the
holders of the warrants, by way of press release, in which event the warrants will expire on the 30th day
after the date on which such notice is given.
Proceeds from the private placement will be used for carrying out surface exploration programs at its
Kliyul and Redton Au-Cu porphyry prospects in central British Columbia.
The Company is proposing to pay finder's fees of 6% cash and 6% finder's warrants on a portion of the
private placement. The private placement and payment of finder's fees are subject to regulatory
approval.
About Pacific Ridge
Pacific Ridge is a well-financed junior exploration company that has assembled a portfolio of highly
prospective gold and base metal projects located in the Yukon and British Columbia, where its board
and management team have a track record of success. Its holdings include the new Kliyul and Redton
copper-gold porphyry projects in north-central British Columbia, the Mariposa, Eureka Dome and Gold
Cap gold exploration projects in the Klondike-White Gold District, Fyre Lake Cu-Au-Co massive
sulphide deposit in the Finlayson District and the Spius Cu-Mo porphyry prospect in southern British
Columbia.
On behalf of the Board of Directors,
"Gerald G. Carlson"
Gerald G. Carlson
President & CEO
Pacific Ridge Exploration Ltd.
For further information, contact:
Pacific Ridge Exploration Ltd.
Gerald G. Carlson
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
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., President and CEO 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 the exercise of the options and future
exploration plans and expenditures. 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.
This news release is not intended for distribution to United States newswire services or
dissemination in the United States.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/59677