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Ridgestone Mining Inc (2)
Symbol	RMI
Shares Issued	5,301,235
Close 2023-09-29	C$ 0.10
Market Cap	C$ 530,124
Recent Sedar Documents

Ridgestone arranges $800,000 private placement

2023-10-11 18:41 ET - News Release

Subject: Ridgestone Mining Inc. - News Release dated October 11, 2023 PDF Document File: Attachment Ridgestone.News Release re. unit private placement (October 11, 2023) (W0447861x10917F).pdf TSX.V: RMI OTCQB: RIGMF RIDGESTONE MINING ANNOUNCES $800,000 PRIVATE PLACEMENT VANCOUVER, BC / October 11, 2023 / Ridgestone Mining Inc. (TSX.V: RMI) (OTCQB: RIGMF) (FRA:4U5) (the "Company" or "Ridgestone") is pleased to announce that it intends to complete a non- brokered private placement financing of 10,000,000 units at $0.08 per unit ("Units") raising gross proceeds of $800,000 (the "Private Placement"), Each Unit is comprised of one common share and one share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.10 per share for a period of five years from closing, subject to final TSX Venture Exchange ("Exchange") approval. The proceeds from the Private Placement will be used for mining exploration and development and for general working capital. All securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day as required under applicable securities legislation. Directors and officers of Ridgestone may acquire securities under the Private Placement, which will be considered a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. About Ridgestone Mining Inc. Ridgestone Mining has assembled a highly experienced and dynamic team to explore and advance its projects in Mexico. Ridgestone's 100%-owned Rebeico copper-gold project has high-grade copper and gold pervasive throughout the property with highlights including 1.56% copper plus 1.80 g/t gold intersected over 19.3 metres from surface at the New Year Zone and 2.78% copper plus 8.69 g/t gold over 2.0 metres from the Alaska Vein. For further information, please contact: Rad Rajaram Manager Corporate Relations and Business Development Telephone: 416-732-0604 This news release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. In this news release such statements include but are not limited to any ongoing drilling programs, timing of such programs, or exploration results. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward- looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward- RIDGESTONE MINING INC. info@ridgestonemining.com 503 905 West Pender Street, Vancouver, BC V6C 1L6 www.ridgestonemining.com TSX.V: RMI OTCQB: RIGMF looking statements, including those described in the Company's regulatory filings available on www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 2 RIDGESTONE MINING INC. info@ridgestonemining.com 606 666 Burrard Street, Vancouver, BC V6C 3P6 www.ridgestonemining.com