Greenridge signs $3M placement deal with Southeast Asian investor

Greenridge Exploration Inc. (CSE: GXP | OTC: GXPLF) signed a Sale and Purchase Agreement on July 30, 2026, with an unnamed Southeast Asian conglomerate for a $3.0 million private placement, according to a company statement.

The offering consists of 13,111,888 units priced at $0.2288 per unit. Each unit includes one common share and one-half of a common share purchase warrant, with each full warrant exercisable at $0.34 for 36 months. An acceleration provision allows the company to reduce the exercise period to 60 days if the volume weighted average trading price reaches $0.50 or higher for ten consecutive trading days.

All securities issued will be subject to a statutory hold period of four months plus one day from the date of issuance.

Upon closing, the corporate investor will hold approximately 17.17% of Greenridge's issued and outstanding shares on a non-diluted basis. The two parties also anticipate entering into an investor rights agreement granting the investor the right to participate in future financings on a pro rata basis, along with certain board nomination rights, contingent on the investor maintaining at least 5% ownership.

The company intends to use proceeds for working capital and general corporate purposes. Closing remains subject to corporate and regulatory approvals, including final approval from the Canadian Securities Exchange, and is expected in the third quarter of 2026. No finder's fees are payable in connection with the offering.

Greenridge is a Vancouver-based mineral exploration company with interests in 22 projects covering approximately 242,239 hectares in Canada, with exposure to uranium, gold, and nickel properties.

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