17:55:24 EDT Fri 12 Jul 2024
Enter Symbol
or Name

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Prospect Ridge Resources Corp
Symbol PRR
Shares Issued 52,027,048
Close 2024-06-13 C$ 0.17
Market Cap C$ 8,844,598
Recent Sedar Documents

Prospect Ridge closes $2.12M first tranche of placement

2024-06-14 02:36 ET - News Release

Subject: News Release for Immediate Dissemination please Word Document

File: '\\swfile\EmailIn\20240613 211547 Attachment Prospect Ridge 2024-04 PP 0.16 NFT unit (1st tranche 06.13) - NEWS RELEASE first tranche close + new PP 0.18 FT Unit (00158977xD9E45).DOCX'

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488-1090 West Georgia Street

Vancouver, BC V6E 3V7


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Vancouver - June 14, 2024 - Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR | OTC:PRRSF | FRA:OED) is pleased to announce that it has closed the first tranche of its non-brokered private placement of $0.16 units (the "Unit Offering") announced May 29, 2024 (see news release for details), issuing an aggregate of 13,284,500 units for gross proceeds of $2,125,520.

In connection with the first tranche, the Company paid and issued an aggregate of $28,515 and 189,157 finder warrants (having the same terms as the private placement warrants) in payment of finder fees. All securities issued in the first tranche are subject to a statutory hold period expiring on October 14, 2024. The Company has further received CSE approval for an extension for the balance of the Unit Offering.

The Company also announces that, concurrently with the balance of the Unit Offering, it will be conducting a non-brokered private of up to 10,000,000 flow through units (the "FT Offering") at a price of $0.18 per flow through unit for gross proceeds of up to $1,800,000. Each flow through unit will be comprised of one flow through common share and one half of a purchase warrant, with a whole warrant being exercisable to purchase one non flow through common share at a price of $0.30 for a period of two years subject to accelerated expiry on the occurrence of certain events.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. is a British Columbia based exploration and development company focused on gold exploration near the prolific Golden Triangle. Prospect Ridge's management and technical team collectively possess over 100 years of mineral exploration experience and believe that its Knauss Creek and Holy Grail properties have the potential to extend the boundaries of the Golden Triangle to include this under-explored region.

Contact Information

Michael Iverson, CEO & Director

Telephone: 604.351.3351

Cautionary Statements

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "might", "could", "should" or "would" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, forecasts, estimates and statements as to management's intentions and expectations with respect to, among other things, positive exploration results at the Knauss Creek and Holy Grail projects. These forward-looking statements involve numerous assumptions, risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that future exploration results at the Knauss Creek and Holy Grail projects will not be as anticipated. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as intended, anticipated or estimated. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those expressed in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are expressed or incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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