Pacific Ridge Closes Final Tranche of C$8.5 Million Financing

Pacific Ridge Exploration Ltd. (PEX) closed the final tranche of its upsized non-brokered private placement on July 2, 2026, securing total gross proceeds of C$8,456,400. The final tranche consisted of 13,400,000 charity flow-through (CFT) shares priced at C$0.294 per share, all purchased by Minsur S.A. through its subsidiary Cumbres del Sur S.A.C. This acquisition makes Minsur the largest shareholder, holding approximately 13.8% of the basic shares outstanding, and brings the company’s total treasury funds to over C$9.0 million.

The transaction includes an Investor Rights Agreement that grants Minsur participation and top-up rights, as well as access to technical information on the RDP copper-gold project. Additionally, Minsur holds a 9-month Right of First Refusal (ROFR) to acquire the RDP project, and a good-faith negotiation period for a potential strategic transaction on RDP is now underway.

The earlier tranches, comprising hard-dollar and flow-through units, had closed on June 26, raising C$4.5 million. The cumulative financing was originally announced on June 4 at C$7.2 million, was upsized on June 8 to C$8.29 million, and finally closed at C$8.456 million.

Pacific Ridge Exploration Ltd. (PEX) has secured a C$8.5 million strategic investment from Minsur, a mid-tier Peruvian mining company focused on copper and tin. The transaction, which includes a full initial right of acquisition (IRA) and a nine-month right of first refusal (ROFR) on the RDP project, fundamentally alters the company's risk profile. Prior to this announcement, Pacific Ridge had a market capitalization of C$12.5 million and was subject to a going-concern warning.

The financing eliminates immediate liquidity concerns, as the company held only C$1.58 million in cash as of March 31, 2026. The capital will fund 2026 drill programs at both the Kliyul and RDP projects. The deal results in approximately 97 million shares outstanding, effectively doubling the previous count. The price for the last common share transaction (CFT) was C$0.294, a premium to the market price of C$0.18. Shares had drifted from C$0.22 to C$0.18 in the weeks prior to the announcement, suggesting the market had already priced in the financing component, though the strategic rights were not fully disclosed until now.

Minsur’s entry marks its first-time strategic investment in Pacific Ridge. The company is not a passive fund but an operator making a targeted move on a specific asset. The nine-month ROFR and good-faith talks signal that Minsur views RDP as a potential acquisition target. RDP hosts one of British Columbia’s best porphyry intercepts, recorded at 112.2m @ 1.35% CuEq, and draws comparisons to the Aurora discovery. A take-out of the RDP project would represent a transformational exit for Pacific Ridge, potentially exceeding its current market capitalization. The strategic nature of the financing reduces the need for future dilutive financings.

Pacific Ridge Exploration Ltd. (PEX) is a Vancouver-based junior focused on copper-gold porphyry systems in British Columbia. Its two 100%-owned flagship assets are the Kliyul copper-gold project in the Omineca district and the RDP copper-gold project in the Toodoggone district.

The Kliyul project hosts an inferred resource of 334.1 Mt @ 0.33% CuEq for 2.42 billion lbs CuEq (5.7 million AuEq oz). Located 9 km from a main road and power line, the resource is open in multiple directions, and a 6 km mineralized trend will be drilled in 2026.

The RDP project is a high-grade porphyry system similar in style to Red Chris and Aurora. Its best drill intercept was 112.2 m of 1.35% CuEq (within 405 m of 0.71% CuEq). The asset was previously optioned to Antofagasta from 2022 to 2024.

The company also owns non-core Yukon gold properties, Mariposa and Eureka Dome, which are optioned to Labrador Gold.