Pacific Ridge Closes Hard Dollar and Traditional Flow-Through Portions of Private Placement for Gross Proceeds of C$4.5 Million

Pacific Ridge Exploration Ltd. (PEX) has closed the initial tranche of its private placement, securing gross proceeds of C$4,516,800.02. The offering comprised 9,920,000 hard dollar units issued at C$0.20 per unit and 11,012,174 flow-through units issued at C$0.23 per unit. Each hard dollar unit included one common share and one-half of a common share purchase warrant, while each flow-through unit included one flow-through share and one-half of a flow-through warrant. The warrants associated with both unit types are exercisable to purchase one common share at C$0.30 until June 26, 2028.

The company intends to allocate the proceeds from the flow-through units toward drilling at its Kliyul copper-gold project, with the funds designated to fund Canadian exploration expenses and flow-through mining expenditures that will be renounced pro rata by December 31, 2026. The net proceeds from the hard dollar units are designated for general working capital and corporate purposes. Pacific Ridge anticipates closing an additional charitable flow-through tranche in early July, which may include up to 13,400,000 charity flow-through shares at C$0.294 per share, generating gross proceeds of up to C$3,939,600.

Finder’s compensation for the transaction included a cash commission of C$165,428 and warrants to purchase up to 735,730 common shares at C$0.30 until June 26, 2028. The securities sold in this offering are subject to a statutory hold period and will not be tradeable until October 27, 2026. These securities have not been registered under the U.S. Securities Act of 1933 and are restricted from offers or sales in the United States without registration or an applicable exemption.