Announces Updated Proposed Financing
RIDGESTONE MINING INC. [email protected]
409 – 221 Esplanade W. North Vancouver, BC V7M 3J3 Canada www.ridgestonemining.com
Ridgestone Mining Inc.
Announces Updated Proposed Financing
VANCOUVER, BC / February 4, 2020 / Ridgestone Mining Inc. ( TSX.V: RMI ) (OTCQB:
RIGMF) ("Ridgestone Mining") is pleased to announce that it intends to complete a non-brokered
private placement financing for gross proceeds of up to $ 1,050,000 (the " Financing"), which is
expected to consist of up to 7,000,000 units (each, a " Unit"), with each Unit comprised of one
common share a nd one -half of one common share purchase warrant (each whole warrant, a
"Warrant") at a price of $0. 15 per Unit, or such other price per unit determined by Ridgestone
Mining management in compliance with TSX Venture Exchange (the " Exchange") pricing
regulations. Each Warrant will be exercisable for one additional common share of Ridgestone
Mining at a price of $0. 30 per share for a period of twelve months following the closing of the
Financing.
The expiry of the Warrants may be accelerated by Ridgestone Mining at any time following the date
that is four months and one day from closing of the Financing (the " Closing Date"), and prior to the
expiry date of the Warrants if, at any time following the Closing Date, the closing price of
Ridgestone Mining's common shares on the Exchange is equal to or exceeds $0. 45 for any 10
consecutive trading d ays. In such event, Ridgestone Mining may accelerate the expiry date of the
Warrants by giving notice to holders of Warrants and issuing a news release announcing the reduced
Warrant term whereupon the Warrants w ill expire on the 10th calendar day after the date of such
news release.
Ridgestone Mining intends to pay finder’s fees of up to 6% in cash and 6% in finder's warrants in
connection with the Financing. Certain directors, officers and insiders of Ridgestone may participate in
the Financing. Net proceeds from the Financing are expected to be used for ongoing working capital
requirements relating to the Rebeico gold-copper project in Sonora, Mexico.
Completion of the Financing is subject to Exchange acceptance, and all securities issued pursuant to
the Financing will be subject to a hold period of four months as required under applicable securities
legislation.
The securities referred to herein will not be or have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
About Ridgestone Mining Inc.
Ridgestone Mining is a TSX Venture Exchange -listed junior mineral exploration company with
offices in Vancouver, B.C. and Taipei. Ridgestone Mining's focus is on precious metals and copper
in Sonora, Mexico, and specifically the Rebeico Gold-Copper project.
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RIDGESTONE MINING INC. [email protected]
409 – 221 Esplanade W. North Vancouver, BC V7M 3J3 Canada www.ridgestonemining.com
For further information, please contact:
MarketSmart Communications Inc.
Telephone: 877-261-4466
This news release contains forward -looking statements or information (collectively referred to herein as "forward -
looking statements"). Such statements are subject to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those contained in the statements and are not guarantees of
future performance of the Company. In this news release such statements include but are not limited to any ongoing
drilling programs or exploration results, or any results from the MarketSmart program. No assurance can be given
that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the
Company will obtain from them. These forward looking statements reflect management's current views and are
based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and
uncertainties could cause our actual results to differ materially from those expressed or implied by the forward -
looking statements, including those described in the Company's regulatory filings available on www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove
incorrect, actual results may vary in material respects from those projected in the forward -looking statements.
Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive.
Unpredictable or unknown factors not discussed could also have material adverse effects on forward -looking
statements. The impact of any one factor on a particu lar forward -looking statement is not determinable with
certainty as such factors are dependent on other factors, and the Company's course of action would depend on its
assessment of the future considering all information then available. All forward -looking statements in this news
release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the
Company assumes no obligation to update forward -looking statements should circumstances or management's
estimates or opinions change.
Neither 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.