Pacific Ridge Closes First Tranche of Brokered Private Placement for Gross Proceeds of C$2.7 Million

Core Points - Pacific Ridge Exploration Ltd. has closed the first tranche of its private placement, raising gross proceeds of C$2,692,920 from the sale of 11,390,000 units at C$0.20 per unit and 1,804,000 flow-through units at C$0.23 per unit [1][9] - The company plans to use the net proceeds for exploration of its Kliyul and RDP copper-gold projects in British Columbia, as well as for general working capital [3] - The offering includes common shares and warrants, with each warrant allowing the purchase of one common share at C$0.28 from November 5, 2025, to September 5, 2028 [2] Financial Details - The total gross proceeds from the sale of flow-through shares will be used for Canadian exploration expenses and flow-through mining expenditures, with an effective date for renouncement not later than December 31, 2025 [4] - Red Cloud Securities Inc. acted as the sole agent and bookrunner for the offering, receiving cash fees of C$132,596.40 and 651,480 non-transferable common share purchase warrants [7] Regulatory Compliance - The units were issued to Canadian purchasers under the listed issuer financing exemption, and the flow-through units were issued under accredited investor and minimum amount investment exemptions [5][6] - The securities issued from the sale of flow-through units and broker warrants are subject to a statutory hold period until January 6, 2026 [8] Insider Participation - Two directors of the company participated in the offering, acquiring a total of 100,000 flow-through units and 100,000 units, which is classified as a related party transaction [10] Company Overview - Pacific Ridge aims to become a leading copper exploration company in British Columbia, with its flagship Kliyul copper-gold project located in a prolific area close to existing infrastructure [13]