Business
Golden Ridge Announces Increase to Previously Announced Financing to $2,809,251
(via TheNewswire) Kelowna, British Columbia / TheNewswire / May 3, 2019 - G...
About this update from Golden Ridge Resources Ltd.
[{"type":"text","content":"Golden Ridge Announces Increase to Previously Announced Financing to $2,809,251(via TheNewswire)\n \n \n\nKelowna, British Columbia / TheNewswire / May 3, 2019 - Golden Ridge Resources Ltd. (\"Golden Ridge\" or the \"Company\") (TSXV: GLDN) announces it has increased its previously announced financing (see news release of April 15, 2019) and will now undertake to complete a non-brokered private placement for up to 13,995,458 flow-through units (a \"FT Unit\") of the Company at a price of $0.165 per FT Unit and a further 4,000,000 units (a \"Unit\") at a price of $0.125 per Unit for aggregate gross proceeds of up to $2,809,251 (the \"Offering\"). \n\n \n \nEach FT Unit will consist of one flow-through common share of the Company that qualifies as a flow-through share for purposes of the Income Tax Act (Canada) (a \"FT Share\") and one non-flow through common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire an additional common share at an exercise price of $0.25 for 36 months after the date of issuance (the \"Closing Date\"). Except in limited circumstances as set forth in the certificates representing the Warrants, the Warrants will be non-transferable by the holders thereof.\n\n \n \nEach Unit will consist of one common share of the Company and one Warrant as described hereinabove.\n\n \n \nThe Company will pay a finder's fee on the Offering, comprised of a cash fee equal to 5% of the gross proceeds raised from the Offering and warrants equal to 6% of the number of FT Units and Units issued (a \"Finder Warrant\"). Each such Finder Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.25 on the same terms as the Warrants. \n\n\n \nThe Offering remains subject to the approval of the TSX Venture Exchange. The proceeds from the FT Units and Units will be used by the Company for exploration activities on its British Columbia properties and working capital respectively. All securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period from the Closing Date under applicable securities laws. \n\n\n \nThe FT Units and Units have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for ...