GOLDEN RIDGE RESOURCES LTD. (TSX-V: GLDN) (“Golden Ridge” or the “Company“) is pleased to announce it intends to complete a best efforts non-brokered private placement financing for up to $2,100,000 (the “Offering”), including a strategic investment by Eric Sprott.
The Offering will include up to 8,400,000 units (each a “Unit”) at a price of $0.25 per Unit. Each Unit will comprise of one common share and one-half of one common share purchase warrant (each whole warrant at “Warrant”) of Company. Each Warrant will entitle the subscriber to purchase one additional common share for a 24-month period from the date of issuance at an exercise price of $0.50 per common share.
Proceeds raised from the Offering will be used for general working capital and to further the Company’s Newfoundland project portfolio. The Offering remains subject to the approval of the TSX Venture Exchange.
All securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period from the date of issuance under applicable securities laws.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Golden Ridge
Golden Ridge is a TSX-V listed exploration company engaged in acquiring and advancing mineral properties located in Newfoundland and British Columbia. Golden Ridge is currently focused on exploration and development of its portfolio of exploration assets in Newfoundland. The company owns a 100% interest in the 1,700-hectare Hank copper-gold-silver-lead-zinc property and the 3,000- hectare Hickman copper-gold property located in the Golden Triangle district, approximately 140 kilometres north of Stewart, British Columbia and has a portfolio of exploration projects in Newfoundland.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN RIDGE RESOURCES LTD.
“Mike Blady”
Mike Blady
President and Chief Executive Officer
For more information regarding this news release, please contact:
Mike Blady, CEO and Director
T: 250-717.3151
F: 250-717.1845
W: www.goldenridgeresources.com
