Bayridge Announces Closing of Non-Brokered Private Placement

Executive Summary

• Bayridge Resources Corp. closed a non‑brokered private placement raising $567,500 in gross proceeds.
• The financing consisted of 1,830,000 flow‑through units at $0.25 each and 550,000 non‑flow‑through units at $0.20 each, each unit paired with half a warrant.
• Proceeds will be used to fund mineral project advancement, Canadian Exploration Expenses, general working capital, and corporate purposes.

Key Details

• Total gross proceeds: $567,500.
• Flow‑through Units (FT): 1,830,000 units @ $0.25 per unit → $457,500.
• Each FT Unit = 1 flow‑through common share + ½ FT warrant.
• Whole FT warrant exercisable at $0.40 for 24 months.
• Non‑flow‑through Units (NFT): 550,000 units @ $0.20 per unit → $110,000.
• Each NFT Unit = 1 non‑flow‑through common share + ½ warrant.
• Whole NFT warrant exercisable at $0.35 for 24 months.
• Finder’s fees: $35,000 paid in cash; 143,500 finder’s warrants issued to parties introducing subscribers.
• Statutory hold period: Securities subject to a four‑month‑and‑one‑day hold period.
• Use of proceeds:
• Advance mineral projects (Uranium exploration).
• Canadian Exploration Expenses under the Income Tax Act for FT proceeds.
• General working capital, corporate purposes, and investor relations.

Notable Quotes

(No direct quotes were provided in the release.)