Ridgeline Minerals Announces $2.5 Million Private Placement
Ridgeline Minerals Announces $2.5 Million
Private Placement
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2021) - Ridgeline Minerals Corp. (TSXV: RDG)
(OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to announce a non-
brokered private placement ("
Private Placement
") of up to five million units ("
Unit
") at a price of $0.50
per Unit to raise gross proceeds of up to C$2.5 million. Each Unit will consist of one common share of
the Company a ("
Share
") and one-half of one non-transferable common share purchase warrant (each
whole warrant, a "
Warrant
"). Each Warrant will be exercisable to acquire one Share at a price of $0.75
for a period of two years from the closing date provided that, commencing on the date that is four months
and one day after the closing date, if the closing price of the Shares on the TSX Venture Exchange (the
"
Exchange
"), is at a price equal to or greater than $1.50 for a period of ten consecutive trading days,
the Company will have the right to accelerate the expiry date of the Warrants by giving written notice to
the holders of the Warrants that the Warrants will expire on the date that is not less than thirty (30) days
from the date notice is provided.
The Company may pay a finder's fee in connection with the Private Placement. Net proceeds of the
Private Placement will be used to advance Ridgeline's exploration program across its portfolio of four
highly prospective gold-silver projects in the Carlin and Battle Mountain - Eureka Trends in Nevada, as
well as for general corporate and working capital purposes.
All securities to be issued in the Private Placement will be subject to a four (4) month hold period from
the closing date under applicable securities laws in Canada and amongst other things, receipt by
Ridgeline of all necessary regulatory approvals, including Exchange approval. The Company anticipates
closing of the Private Placement as soon as practicable subject to receipt of all necessary regulatory
approvals.
About Ridgeline Minerals Corp.
Ridgeline is a discovery focused gold explorer with a proven management team and a 125 km²
exploration portfolio across four projects in the highly prospective Carlin and Battle Mountain - Eureka
Trends in Nevada, USA. More information about Ridgeline can be found at
www.RidgelineMinerals.com
.
On behalf of the Board
"Chad Peters"
President & CEO
Further Information:
Chad Peters, P.Geo.
President & CEO
Ridgeline Minerals Corp.
1-866-RDG-NVAU (734-6828) - toll free
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
This news release does not constitute an offer to sell or solicitation of an offer to sell any
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.
Cautionary Note regarding Forward Looking Statements
Statements contained in this press release that are not historical facts are "forward-looking
information" or "forward-looking statements" (collectively, "Forward-Looking Information"). Forward-
Looking Information includes, but is not limited to, the anticipated timing for completion of the Private
Placement, the potential payment of finders' fees and the intended use of proceeds. The words
"potential," "anticipate," "significant," "discovery," "forecast," "believe," "estimate," "expect," "may,"
"will," "project," "plan", "historical", "historic" and similar expressions are intended to be among the
statements that identify Forward-Looking Information. Forward-Looking Information involves known
and unknown risks, uncertainties and other factors which may cause the actual results to be materially
different from any future results expressed or implied by the Forward-Looking Information. In preparing
the Forward-Looking Information in this news release, Ridgeline has applied several material
assumptions, including, but not limited to, assumptions that the current objectives concerning its
mineral projects can be achieved and that its other corporate activities will proceed as expected; that
general business and economic conditions will not change in a materially adverse manner; and that
all conditions precedent to completion of the Private Placement, including receipt of all requisite
approvals, will be obtained in a timely manner. Forward-Looking Information involves known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements of Ridgeline to be materially different from any future results, performance or
achievements expressed or implied by the Forward-Looking Information. Such risks and other factors
include, among others, risks related to dependence on key personnel; risks related to unforeseen
delays; risks related to availability of capital and financing, general economic, market and business
conditions; uninsured risks; regulatory changes; as well as those factors discussed in Ridgeline's
public disclosure record. Although Ridgeline has attempted to identify important factors that could
affect Ridgeline and may cause actual actions, events or results to differ materially from those
described in Forward-Looking Information, there may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended. There can be no assurance that Forward-
Looking Information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on Forward-Looking Information. Except as required by law, Ridgeline does not assume any
obligation to release publicly any revisions to Forward-Looking Information contained in this news
release to reflect events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/80592