Pacific Ridge Exploration Raises C$8.5 Million After Closing Final Tranche of Private Placement
Pacific Ridge Exploration (PEX.V) raised C$8.5 million after closing the final tranche of its private placement, the copper explorer said late Thursday. Pacific Ridge plans to use the proceeds to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures under Canada's Income Tax Act. The company is focused on advancing its flagship Kliyul copper-gold project and also owns the RDP, Onjo, and Redton copper-gold projects -- all located in British Columbia. The total offering comprised 9,920,000 hard dollar units priced at C$0.20 apiece; 11,012,174 flow-through units priced at C$0.23 each; and a final tranche of 13,400,000 charity flow-through shares priced at C$0.294 apiece. Peruvian mining company Minsur S.A. took a 13.8% shareholding in Pacific Ridge after it purchased all of the common shares issued under the final tranche of the offering.
Pacific Ridge Exploration (PEX.V) raised C$8.5 million after closing the final tranche of its private placement, the copper explorer said late Thursday.
Pacific Ridge plans to use the proceeds to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures under Canada's Income Tax Act.
The company is focused on advancing its flagship Kliyul copper-gold project and also owns the RDP, Onjo, and Redton copper-gold projects -- all located in British Columbia.
The total offering comprised 9,920,000 hard dollar units priced at C$0.20 apiece; 11,012,174 flow-through units priced at C$0.23 each; and a final tranche of 13,400,000 charity flow-through shares priced at C$0.294 apiece.
Peruvian mining company Minsur S.A. took a 13.8% shareholding in Pacific Ridge after it purchased all of the common shares issued under the final tranche of the offering.