Bayridge Resources arranges $830,000 private placement

Executive Summary

• Bayridge Resources Corp. announced a non-brokered private placement with gross proceeds of up to $830,000, structured in two distinct tranches: flow-through units and non-flow-through units.
• The offering includes equity components (common shares) and warrants, with specific pricing and exercise prices differentiated between the flow-through and non-flow-through portions.
• Proceeds are designated for advancing mineral projects (specifically incurring Canadian exploration expenses for the flow-through portion), general working capital, and corporate purposes.

Key Details

• Total Gross Proceeds: Up to $830,000.
• Flow-Through Units (FT Units):
  • Quantity: Up to 2,000,000 FT units.
  • Price: $0.25 per FT unit.
  • Composition: One flow-through common share and one-half of one common share purchase warrant per unit.
  • Warrant Terms: Each whole FT warrant is exercisable at $0.40 to acquire one non-flow-through common share.
  • Warrant Expiry: Up to 24 months.
  • Use of Proceeds: To incur Canadian exploration expenses within the meaning of the Income Tax Act (Canada).
• Non-Flow-Through Units (NFT Units):
  • Quantity: Up to 1,650,000 NFT units.
  • Price: $0.20 per NFT unit.
  • Composition: One non-flow-through common share and one-half of one warrant per unit.
  • Warrant Terms: Each whole warrant is exercisable at $0.35 to acquire one non-flow-through common share.
  • Warrant Expiry: Up to 24 months.
• Use of Proceeds (General): Advance mineral projects, general working capital, and corporate purposes (including investor relations).
• Closing Conditions: Subject to customary closing conditions.
• Hold Period: Securities issued are subject to a statutory hold period of four months and one day.
• Finder’s Fees: The company may compensate finders with 7% cash plus 7% finders' fees, in accordance with Canadian Securities Exchange rules.

Notable Quotes

• None provided in the text.