Riverside Resources Announces Closing of Non-Brokered Private Placement for $3.7 Million

Executive Summary

• Riverside Resources completed a non‑brokered private placement of 18,460,000 units at $0.20 per unit, generating gross proceeds of $3,692,000.
• Each unit includes one common share and half of a warrant; the full warrant allows purchase of an additional share at $0.30 for two years.
• Proceeds will be used for strategic initiatives, working capital, general corporate purposes, and project advancement.

Key Details

• Offering Size: 18,460,000 hard‑dollar units
• Price per Unit: $0.20
• Gross Proceeds: $3,692,000 (net proceeds to be applied to strategic initiatives)
• Unit Composition: 1 common share + ½ of a common‑share purchase warrant
• Warrant Terms: One whole warrant = right to buy one additional common share at an exercise price of $0.30; exercisable for two years from issuance, with customary acceleration provisions.
• Insider Participation: Directors/officers purchased 225,000 units for $45,000 (≈ 1.2% of total units). Transaction qualifies as a related‑party transaction under MI 61‑101 but did not require minority shareholder approval due to valuation exemption.
• Board Approval: Unanimously approved; participating insiders abstained from voting on matters relating to their participation.
• Use of Proceeds: Strategic initiatives, working capital, general corporate purposes, and advancement of Riverside’s projects.
• Statutory Hold Period: Four months and one day, expiring 2026‑03‑29.
• Regulatory Conditions: Subject to final TSXV approval; securities not registered under U.S. securities laws.

Notable Quotes

“Riverside is in a strong financial position and this strategic additional investment by key shareholders who have stayed with us over many cycles continues our growth,” – John‑Mark Staude, President & CEO.