Greenridge Exploration Closes Flow-Through Private Placement Financing

Executive Summary

• Greenridge Exploration Inc. closed a non‑brokered private placement of 5,817,079 flow‑through units for aggregate gross proceeds of $2,035,977.65.
• Each unit consisted of one common share (flow‑through) and one warrant to purchase an additional common share at $0.40 exercisable for 24 months.
• Proceeds will be used to incur eligible Canadian exploration expenses that qualify as flow‑through mining expenditures on the Company’s Canadian projects; all qualifying expenditures will be renounced to unit subscribers on December 31, 2025.

Key Details

• Units Issued: 5,817,079 FT Units at $0.35 per unit.
• Composition of Each FT Unit:
• 1 common share issued on a flow‑through basis (FT Share).
• 1 common share purchase warrant (Warrant) – exercisable at $0.40 per share for 24 months from issuance.
• Gross Proceeds: $2,035,977.65.
• Use of Proceeds: To fund eligible Canadian exploration expenses that will be renounced to unit subscribers on 31 Dec 2025.
• Related‑Party Participation (MI 61‑101):
• Warren Stanyer (Director) – 21,000 units → $7,350.
• Mandeep Parmar (Director) – 142,857 units → $49,999.95.
• Russell Starr (CEO & Director) – 2,000,000 units → $700,000.
• The related‑party transaction qualified for exemption from valuation and minority‑shareholder approval because the fair market value of securities issued to insiders did not exceed 25 % of Greenridge’s market capitalization.
• No material change report was filed prior to closing as insider participation had not been determined at that time.
• Statutory Hold Period: All securities are subject to a hold period of four months and one day.
• U.S. Securities Law Disclaimer: Units are not, and will not be, registered under the U.S. Securities Act; they may not be offered or sold in the United States or to U.S. persons without an exemption or registration.

Notable Quotes

• “The successful closing of this private placement provides us with the capital needed to advance our exploration programs across Canada and demonstrates continued investor confidence in Greenridge’s strategic focus on critical minerals.” – Russell Starr, CEO & Director.