Pacific Ridge Closes $780,000 Financing with Crescat and DELPHI
Pacific Ridge Closes $780,000 Financing with
Crescat and DELPHI
Vancouver, British Columbia--(Newsfile Corp. - September 22, 2022) - Pacific Ridge Exploration Ltd.
(TSXV: PEX) ("
Pacific Ridge
" or the "
Company
") is pleased to announce that it has closed the
previously announced non-brokered private placement (see news release dated September 4, 2022)
with Crescat Capital LLC and DELPHI Unternehmensberatung Aktiengesellschaft, the Company's two
largest shareholders. Pacific Ridge issued 3,391,304 units at a price of $0.23 per unit ("
Unit
") for gross
proceeds of $780,000 (the "
Financing
").
Proceeds from this Financing will be used for additional drilling at Pacific Ridge's flagship Kliyul copper-
gold project, located in the prolific Quesnel Trough in northcentral B.C., and for general working capital.
Each Unit is 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. Securities issued in this non-brokered private placement
include a legend restricting trading of the securities until January 23, 2023. No finders' fees were
payable in connection with the Financing. The Financing is subject to final acceptance of the TSX
Venture Exchange.
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.
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. 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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES
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https://www.newsfilecorp.com/release/138087