Vancouver, B.C. – July 15, 2021 – Pacific Ridge Exploration Ltd. (PEX: TSX Venture; PEXZF: OTCBB) (“Pacific Ridge” or the “Company”) is pleased to announce that it has submitted its application to trade its common shares on the OTC Venture Market (“OTCQB”).
“The OTCQB listing will help Pacific Ridge grow its U.S. shareholder base as the Company advances the Kliyul copper-gold project,” said Blaine Monaghan, President and CEO of Pacific Ridge. “The fully funded drill program at Kliyul is expected to start in the next several weeks.”
The OTCQB offers early stage and developing international companies the benefits of being publicly traded in the U.S. without the complexity and cost of a U.S. exchange listing. As a verified market with efficient access to U.S. investors, the OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.
Pacific Ridge will notify investors when its common shares begin trading on the OTCQB.
European marketing consultant
The Company has entered into a consulting agreement with Westlake Capital (“Westlake”) to increase Pacific Ridge’s profile within the European investment community. Westlake, based in Switzerland, has been retained for a term of six months at a fee of CAD$6,000 per month. Westlake does not presently have any interest, direct or indirect, in Pacific Ridge or its securities, nor any right or intent to acquire such an interest, other than the stock options to be granted pursuant to the consulting agreement (see below). The consulting agreement with Westlake is subject to acceptance for filing by the TSX Venture Exchange.
Stock options
Pacific Ridge has granted incentive stock options to various directors, officers, and consultants to purchase 1.1 million common shares at an exercise price of CAD$0.25 per share, exercisable for a period of five years. The options granted to various directors, officers and consultants vest immediately. The 200,000 stock options granted to Westlake will vest 25% each quarter over a 12-month period. The stock options are subject to the terms and conditions of the Company’s stock option plan and the policies of the TSX Venture Exchange.
About Pacific Ridge
Our goal is to become one of the leading copper-gold exploration companies in British Columbia. Pacific Ridge’s flagship project is the advanced-stage Kliyul copper-gold project, located in the Quesnel Trough, approximately 50 km southeast of Centerra Gold’s Kemess project. Historic drilling at Kliyul encountered significant copper-gold porphyry mineralization, drill hole KLI-15-34 returned 245 metres of 0.75% CuEQ1 (see Pacific Ridge press release dated December 2, 2020). The Company plans to launch a drill program at Kliyul later this month.
On behalf of the Board of Directors,
“Blaine Monaghan”
Blaine Monaghan
President & CEO
Pacific Ridge Exploration Ltd.
Corporate Contact:
Blaine Monaghan
President & CEO
Tel: (604) 687-4951www.pacificridgeexploration.com
