Business
Ridgeline Minerals Files Preliminary Prospectus for Proposed Initial Public Offering
Vancouver, Canada, July 14, 2020 – Ridgeline Minerals Corp. (“Ridgeline” or the “Company”) is pleased to announce that it has filed a preliminary prospectus wit
About this update from Ridgeline Minerals Corp
[{"type":"text","content":"Vancouver, Canada, July 14, 2020 – Ridgeline Minerals Corp. (“Ridgeline” or the “Company”) is pleased to announce that it has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces of British Columbia, Alberta and Ontario for a proposed initial public offering (the “Offering”) of a minimum of 4,444,444 units of the Company (“Units”) and a maximum of 6,666,666 Units at a price of $0.45 per Unit (the “Offering Price”) for gross proceeds of a minimum of $2,000,000 and a maximum of $3,000,000. Each Unit is comprised of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (each whole such warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share at an exercise price of $0.55 for a period of 30 months from the date of issuance. Following completion of the Offering, if the closing price of the Shares is equal to or greater than $0.85 per Share for a period of twenty (20) consecutive trading days, the Company may elect to accelerate the expiry date of the Warrants to a date that is 30 calendar days from the date when written notice of such new expiry date is sent by the Company to the holders of the Warrants. The Offering will be managed by Haywood Securities Inc. (the “Agent”). Ridgeline has granted the Agent an option (the “Agent’s Option”), exercisable in whole or in part, at the sole discretion of the Agent, at any time up to two business days prior to the closing date of the Offering, to purchase up to an additional 15% of the number of Units sold under the Offering at the Offering Price. A preliminary prospectus has been filed with the securities commissions in each of the provinces of British Columbia, Alberta, and Ontario, containing important information relating to the Units. The preliminary prospectus has not yet become final for the purposes of the sale of securities and information contained in the preliminary prospectus may not be complete and may have to be amended. There will not be any sale or any acceptance of an offer the buy the Units until a receipt for the final prospectus has been issued by the relevant securities commissions in Canada. A copy of the preliminary prospectus is available under the Company’s profile on SEDAR. No securities regulatory authority has either ...