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Ridgeline Minerals Announces $2.5 Million Non-Brokered Financing of Units
All dollars are Canadian unless otherwise noted Vancouver, British Columbia--(Newsfile Co...
About this update from Ridgeline Minerals Corp
[{"type":"text","content":"Ridgeline Minerals Announces $2.5 Million Non-Brokered Financing of UnitsAll dollars are Canadian unless otherwise notedVancouver, British Columbia--(Newsfile Corp. - September 9, 2022) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (\"Ridgeline\" or the \"Company\") announces that, subject to regulatory approval, it proposes to amend the terms of the previously announced private placement by changing the securities offered from 10,000,000 common shares to up to 12,500,000 units (\"Units\") at a price of $0.20 per Unit, with each Unit consisting of one common share and one-half of one warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.30 per share for a period of 24 months.The proceeds from the sale of the Units will be used to fund the Company's exploration programs per the Company's news release dated August 31, 2022 and for general working capital. Certain directors and officers of the Company may acquire securities under the private placement. Any such participation would be considered to be a \"related party transaction\" as defined under Multilateral Instrument 61-101 (\"MI 61-101\"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization. The Company may pay a finder's fee in connection with the private placement and this financing is subject to the approval of the TSX Venture Exchange. The Company anticipates closing of the private placement as soon as practicable subject to receipt of all necessary regulatory approvals.This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.About Ridgeline Minerals Corp.Ridgeline Minerals is a discovery focused gold-silver explorer with a ...