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Prospect Ridge Announces Closing of Flow-Through Unit Private Placement
NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / December 29, 2025 /Prospect Ridge Resources Corp.(the "Company" or "Prospect Ridge") (CSE:PRR)(OTCQB:PRRSF)(FRA:OED) is pleased to announce that it has closed ...
About this update from Prospect Ridge Resources Corp.
[{"type":"text","content":"NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES","length":58,"tagName":"p"},{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / December 29, 2025 / Prospect Ridge Resources Corp.(the "Company" or "Prospect Ridge") (CSE:PRR)(OTCQB:PRRSF)(FRA:OED) is pleased to announce that it has closed its non-brokered flow-through private placement (the "FT Placement") of $0.09 flow-through units announced on December 12, 2025 (see news release for details) issuing an aggregate of 8,894,444 flow-through units for gross proceeds of $800,500.","length":467,"tagName":"p"},{"type":"text","content":"Each Unit consists of one flow-through common share (an "FT Share") of the Company and one-half of a warrant, with a whole warrant (a "Warrant") being exercisable to purchase one non-flow-through common share (a "Warrant Share") of the Company at a price of $0.15 for a period of two years after closing. The Warrants will be subject to accelerated expiry if the Company's common shares trade or close on the Canadian Securities Exchange (the "Exchange") at $0.25 or more for ten consecutive trading days.","length":549,"tagName":"p"},{"type":"text","content":"In connection with the closing, the Company paid aggregate finder fees of $53,200 in cash and 591,111 finder warrants having the same terms as the Warrants (exercisable at $0.15 for 2 years subject to acceleration). All securities issued in the placement are subject to a statutory hold period expiring on April 30, 2026.","length":321,"tagName":"p"},{"type":"text","content":"Insiders of the Company purchased an aggregate of 240,000 flow-through units ($21,600), representing approximately 2.70% of the total number of flow-through units issued in the FT Placement. The common shares so acquired by insiders represented approximately 0.23% of the issued and outstanding common shares upon closing, and together with the common shares issuable on exercise of the warrants so acquired by insiders would constitute an aggregate number of common shares representing approximately 0.34% of the then issued and outstanding shares as of closing.","length":563,"tagName":"p"},{"type":"text","content":"The participation by insiders constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-10...