Business
Amended: Golden Ridge Resources Completes Non-Brokered Private Placements for aggregate $1.19M
(TheNewswire) TheNewswire - October 1, 2020 - GOLDEN RIDGE RESOURCES ...
About this update from Golden Ridge Resources Ltd.
[{"type":"text","content":"Amended: Golden Ridge Resources Completes Non-Brokered Private Placements for aggregate $1.19M\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n TheNewswire -\n \n \n October 1, 2020 -\n \n \n GOLDEN RIDGE RESOURCES LTD.\n(TSXV:GLDN)\n \n \n (\"\n \n \n Golden Ridge\n \n \n \" or\nthe \"\n \n \n Company\n \n \n \")\n \n \n is pleased to\nannounce\n \n \n effective September 30, 2020\n \n \n it has closed its previously announced financing\n(\n \n \n see news release of\nSeptember 2, 2020\n \n \n ) and issued\n \n \n 1,158,412 units of the Company on a flow-through basis (the\n\"\n \n \n FT Units\n \n \n \") at a price of $0.29 per FT Unit for gross proceeds of\n$335,939 and further issued 2,672,000 units of the Company on a\ncharity flow-through basis (the \"\n \n \n Charity FT Units\n \n \n \") at a price of $0.32 per Charity FT Unit for gross\nproceeds of $855,040. The FT Units and the Charity FT Units are\ncollectively referred to as the \"\n \n \n Offered Securities\n \n \n \".\n \n \n \n \n Each FT Unit and Charity FT Unit consists of one common\nshare in the capital of the Company (a \"\n \n \n Common Share\n \n \n \")\nissued on a flow-through basis under the\n \n \n Income Tax Act\n \n \n (Canada) (the \"\n \n \n Tax\nAct\n \n \n \") and one-half of one common share\npurchase warrant (each whole warrant a \"\n \n \n Warrant\n \n \n \"). Each\nWarrant entitles the holder thereof to purchase one non-flow-through\nCommon Share at an exercise price of $0.40 until September 30,\n2022.\n \n \n \n \n In connection with the Offering the Company has paid\naggregate finders' fees of $35,757 in cash and issued 142,188 finders\nwarrants (\"\n \n \n Finder\nWarrant\n \n \n \"). Each Finder Warrant\n \n \n entitles the holder to acquire one additional Common Share\n \n \n at a price of $0.40 per share\n \n \n on the same terms as the Warrants until September 30,\n2022.\n \n \n \n \n The gross proceeds from the sale of the FT Units and\nthe Charity FT Units will be used by the Company to incur eligible\nCanadian exploration expenses that will qualify as flow-through mining\nexpenditures as such terms are defined in the Tax Act related to the\nCompany's projects in Canada. All qualifying expenditures will be\nrenounced in favour of the subscribers of the FT Units and the Charity\nFT Units effective Dec. 31, 2020.\n \n \n \n \n All Offered...