Pacific Ridge closes $4.65-million financing

Executive Summary

• Pacific Ridge Exploration Ltd. closed the second and final tranche of its best‑efforts private placement, bringing total gross proceeds to C$4.65 million.
• The offering sold 7,806,734 units at C$0.20 per unit and 1,726,434 flow‑through (FT) units at C$0.23 per FT unit, generating $1.96 M and $397 k respectively.
• Net proceeds will fund exploration of the Kliyul and RDP copper‑gold projects in British Columbia, as well as general working capital and corporate purposes.

Key Details

• Units sold: 7,806,734 units @ C$0.20 per unit → gross proceeds $1,958,426.62
• Flow‑through units sold: 1,726,434 FT units @ C$0.23 per FT unit → gross proceeds $397,079.82
• Aggregate gross proceeds (both tranches): C$4,651,346.62
• Warrant terms (units & FT units): Each warrant allows purchase of one common share at C$0.28, exercisable Nov 26 2025 – Sept 26 2028.
• Broker fees: Red Cloud Securities received cash fees of $114,424.79 and 556,586 non‑transferable broker warrants (exercisable at C$0.20 per share, until Sept 26 2028).
• Statutory hold period: All securities issued are subject to a hold ending Jan 27 2026.
• Use of proceeds:
• Exploration of the Kliyul and RDP copper‑gold projects in British Columbia.
• General working capital and corporate purposes.
• FT proceeds earmarked for Canadian exploration expenses and, pending tax legislation changes, flow‑through mining expenditures; to be renounced to purchasers by Dec 31 2025.
• Agents: Red Cloud Securities Inc. acted as sole agent and bookrunner.
• Regulatory compliance: Units issued under NI 45‑106 listed issuer financing exemption; FT units issued via accredited investor/minimum amount exemptions.

Notable Quotes

(No direct quotes were provided in the release.)