Business
Golden Ridge Resources Completes $2,100,000 Financing
(TheNewswire) TheNewswire - June 11, 2021 - GOLDEN RIDGE RESOURCES LT...
About this update from Golden Ridge Resources Ltd.
[{"type":"text","content":"Golden Ridge Resources Completes $2,100,000 Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n TheNewswire -\n \n \n June 11, 2021 -\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 has completed the previously\nannounced financing (\n \n \n see new\nrelease of June 4, 2021)\n \n \n wherein the Company has\nissued\n \n \n today 8,400,000 units (the\n“\n \n \n Units\n \n \n ”) at a price of $0.25 for gross proceeds of $2,100,000\n(the “\n \n \n Offering\n \n \n ”).\n \n \n \n \n Each Unit consists of one common share and one-half of\none common share purchase warrant (each whole warrant at\n“\n \n \n Warrant\n \n \n ”) of Company. Each Warrant entitles the subscriber to\npurchase one additional common share for at an exercise price of $0.50\nper common share until June 11, 2023.\n \n \n \n \n Mr. Eric Sprott, through 2176423 Ontario Ltd., a\ncorporation that is beneficially owned by him, acquired 6,000,000\nUnits for approximate consideration of $1,500,000.  Subsequent to the\nclosing of the offering, Mr. Sprott beneficially owns or controls\n6,000,000 Common Shares of the Company and 3,000,000 Warrants,\nrepresenting approximately 11.9% of the issued and outstanding common\nshares of the Company on a non-diluted basis and approximately 16.9%\nof the issued and outstanding common shares of the Company on a\npartially diluted basis, assuming exercise of the Warrants forming\npart of the Units acquired. Prior to the offering, Mr. Sprott did not\nbeneficially own or control any securities of the Company.\n \n \n \n \n The Units were acquired by Mr. Sprott for investment\npurposes. Mr. Sprott has a long-term view of the investment and may\nacquire additional securities of Golden Ridge Resources, including on\nthe open market or through private acquisitions, or sell securities of\nthe company, including on the open market or through private\ndispositions in the future, depending on market conditions,\nreformulation of plans and/or other factors that Mr. Sprott considers\nrelevant from time to time.\n \n \n \n \n A copy of Mr. Sprott's early-warning report will be\nfiled under Golden Ridge’s profile on SEDAR and may also be obtained\nby calling Mr. Sprott's office at 416-945-3294 (200 B...