Pacific Ridge plans private placement to raise up to C$4 million

Pacific Ridge Exploration Ltd. (TSXV: PEX) announced it has entered into an agreement with Red Cloud Securities Inc. to act as sole agent for a private placement offering to raise up to C$4 million in gross proceeds.

The offering consists of up to 15 million units priced at C$0.20 each for proceeds of up to C$3 million, and up to 4.3 million flow-through units at C$0.23 each for proceeds of up to C$1 million. Each unit includes one common share and one warrant, with warrants exercisable at C$0.28 for 36 months starting 61 days after closing.

Red Cloud Securities has an option to raise an additional C$1 million through the sale of additional units and flow-through units, subject to a maximum of 4.2 million additional units.

The company plans to use net proceeds for continued drilling at its RDP copper-gold project and to restart drilling at the Kliyul copper-gold project, both located in British Columbia. Funds will also support general working capital and corporate purposes.

Flow-through share proceeds will be used for Canadian exploration expenses that qualify as "flow-through mining expenditures" under the Income Tax Act, to be renounced to subscribers with an effective date no later than December 31, 2025.

The offering is expected to close around August 29, 2025, subject to regulatory approvals including TSX Venture Exchange approval. Units will be offered under the listed issuer financing exemption in several Canadian provinces, while flow-through units will be offered under accredited investor and minimum investment exemptions.

Pacific Ridge operates multiple copper-gold exploration projects in British Columbia, with Kliyul serving as its flagship project in the Quesnel terrane.

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