- Pacific Ridge closes second and final tranche of private placement.
- Gross proceeds total C$4.65M across both tranches.
- Funds to advance Kliyul and RDP copper-gold projects in B.C.
- Pacific Ridge (TSXV: PEX) closed at C$0.165, unchanged.
Pacific Ridge Exploration Ltd. (TSXV: PEX) has closed the second and final tranche of its previously announced best-efforts private placement, bringing total proceeds to C$4.65 million.
The final tranche raised C$1,958,426.62 from the sale of 7,806,734 units at C$0.20 each and C$397,079.82 from the sale of 1,726,434 flow-through units at C$0.23 each.
Together with the first tranche completed on September 5, 2025, the company raised aggregate gross proceeds of C$4,651,346.62.
Each unit consists of one common share and one common share purchase warrant. Each flow-through unit includes one flow-through share and one warrant.
All warrants entitle the holder to acquire an additional share at C$0.28 from November 26, 2025 until September 26, 2028.
Pacific Ridge said net proceeds will be used to fund exploration at its Kliyul and RDP copper-gold projects in British Columbia, as well as for working capital and corporate purposes.
Proceeds from flow-through shares will be used to incur Canadian exploration expenses, which will be renounced to purchasers by December 31, 2025.
The offering was led by Red Cloud Securities Inc., which acted as sole agent and bookrunner. As compensation, Red Cloud received cash fees of C$114,424.79 and 556,586 broker warrants exercisable at C$0.20 until September 26, 2028.
The units issued under the listed issuer financing exemption are freely tradeable under Canadian securities laws, while flow-through units and broker warrants are subject to a hold period ending January 27, 2026. Final approval of the tranche remains subject to the TSX Venture Exchange.
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