Skull Ridge Gold Corp. completes $122,500 private placement

Skull Ridge Gold Corp. (CSE: SKUL) has closed the second and final tranche of a non-brokered private placement, completing aggregate gross proceeds of approximately $122,500, according to a company statement.

In the second tranche, the company issued 1,750,000 units at $0.026 per unit, raising $45,500. Each unit consists of one common share and one warrant, with each warrant exercisable at $0.05 per share for 60 months from issuance. Across both tranches, the company issued a total of 4,711,528 units.

The company paid cash finder's fees of $3,120 and issued 120,000 finder's warrants, each exercisable at $0.05 per share for 60 months.

Karim Rayani, CEO and director of Skull Ridge, subscribed for 1,000,000 units in the placement. The company classified his participation as a related party transaction under Multilateral Instrument 61-101, relying on exemptions from formal valuation and minority shareholder approval requirements, as the fair market value of the participation does not exceed 25% of the company's market capitalization.

Proceeds are intended for exploration activities, working capital, and general corporate purposes. All securities issued are subject to a statutory hold period under applicable securities laws.

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