Ridgeline Minerals Closes Oversubscribed $2.2 Million Private Placement
Ridgeline Minerals Closes Oversubscribed
$2.2 Million Private Placement
Not for dissemination in the United States or through U.S. newswires
All dollars are Canadian unless otherwise noted
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2024) - Ridgeline Minerals Corp. (TSXV: RDG)
(OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to announce that further to
its news releases on April 17, 2024 and April 19, 2024, the Company has closed its oversubscribed,
non-brokered private placement (the "
Offering"
) to issue 18,481,801 units of the Company (the
"
Units
"), at a price of $0.12 per Unit (the "
Issue Price
"), for aggregate gross proceeds of $2,217,816.
Each Unit consists of one common share of the Company and one-half of one common share purchase
warrant (each whole warrant a "
Warrant
"). Each Warrant entitles the holder to acquire one additional
common share in the Company at a price of $0.18 per share until May 7, 2026.
The proceeds from the Offering will be used to fund exploration activities at the Company's Nevada
properties and for general working capital. In connection with the Offering the Company has paid
aggregate cash finders' fees of $76,849.
All securities issued pursuant to the Offering will be subject to a statutory four month and one day hold
expiring on September 8, 2024.
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.
Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management
team and a 192km
2
exploration portfolio across five projects in Nevada, USA. The Company boasts two
earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects, which are
being aggressively explored by Nevada Gold Mines in 2024. 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 & Director
Ridgeline Minerals Corp.
+1 775 304 9773
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.
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") within the
meaning of applicable Canadian securities legislation and the United States Private Securities
Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the potential
benefits of the Offering and filing of the material change report in respect thereof. The words
"potential", "anticipate", "meaningful", "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 TSX Venture Exchange approval will be
granted in a timely manner subject only to standard conditions; that all conditions precedent to
completion of the Private Placement will be satisfied in a timely manner; the current objectives
concerning the Company's 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 requisite information will be available 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 historical data that has not been verified by the
Company; 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/208341