Prospect Ridge Announces Non-Brokered Private Placement

Executive Summary

• Prospect Ridge Resources Corp. announced a non‑brokered private placement of up to 8,888,889 critical mineral flow‑through units at $0.09 per unit, targeting gross proceeds of up to $800,000.
• The financing adds $1.6 M (including prior round) to the treasury, earmarked for the 2026 drill programs on the Excalibur, Castle and Camelot projects.
• Each unit consists of one flow‑through common share and half a warrant; full warrants allow purchase of non‑flow‑through shares at $0.15 for two years, with accelerated expiry if the CSE price reaches $0.25 for ten consecutive days.

Key Details

• Offering Size: Up to 8,888,889 units (≈ $800,000) at $0.09 per unit.
• Unit Composition:
• 1 flow‑through common share (“FT Share”).
• ½ warrant; two halves combine into a full warrant (“Warrant”) exercisable for one non‑flow‑through common share at $0.15.
• Warrant Terms: Exercisable for two years post‑closing; accelerated expiry if CSE price ≥ $0.25 for ten consecutive trading days.
• Use of Proceeds: To fund eligible Canadian exploration expenses on BC mineral projects, specifically the 2026 drilling campaigns at Excalibur, Castle and Camelot.
• Closing Conditions: Subject to receipt of all required approvals, including CSE acceptance; securities subject to a statutory/Exchange hold period of four months plus one day.
• Finder Fees: Company may pay finder fees in compliance with applicable laws and Exchange policies.
• Regulatory Notice: Securities are not registered under the U.S. Securities Act and cannot be offered or sold in the United States or to U.S. persons absent exemption.

Notable Quotes

“Our multi‑faceted 2025 exploration campaign was successful… The additional funds will alleviate market uncertainty and ensure that the Company is able to secure all required contractors and supplies early in 2026…” – Len Brownlie, Ph.D., President & CEO