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Ridgeline Minerals Announces Upsized Non-Brokered Private Placement up to $4,200,000
Vancouver, British Columbia--(Newsfile Corp. - January 31, 2025) - Ridgeline Minerals Corp. (TSXV...
About this update from Ridgeline Minerals Corp
[{"type":"text","content":"Ridgeline Minerals Announces Upsized Non-Brokered Private Placement up to $4,200,000Vancouver, British Columbia--(Newsfile Corp. - January 31, 2025) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (\"Ridgeline\" or the \"Company\") is pleased to announce that in connection with its previously announced non-brokered private placement (January 22, 2025 news release) the Company has increased the size of the private placement up to 28,000,000 units (the \"Units\"), at a price of $0.15 per Unit, for aggregate gross proceeds of up to $4,200,000 (the \"Upsized Private Placement\"). Each Unit consists of one common share (a \"Share\") of the Company and one-half of one non-transferable share purchase warrant (each a whole warrant a \"Warrant\"). Each Warrant entitles the holder to purchase one additional Share of the Company at a price of $0.25 per share for a period of 24 months from the date of issue.The proceeds from the sale of the Upsized Private Placement will be used to fund exploration activities at the Company's projects in Nevada and for general working capital. Certain directors and officers of the Company may acquire securities under the Upsized 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 6% cash finder's fee in connection with the Upsized Private Placement. All securities to be issued in the Upsized Private Placement will be subject to a four month plus one day hold period from the closing date under applicable securities laws in Canada. The Company anticipates closing of the Upsized Private Placement as soon as practicable and is subject to TSX Venture Exchange approval.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 sol...