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Riverside Resources Announces Closing of Non-Brokered Private Placement for $3.7 Million
Vancouver, British Columbia--(Newsfile Corp. - December 1, 2025) - Riverside Resources Inc. (TSXV...
About this update from Riverside Resources Inc
[{"type":"text","content":"Riverside Resources Announces Closing of Non-Brokered Private Placement for $3.7 MillionVancouver, British Columbia--(Newsfile Corp. - December 1, 2025) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY0) (\"Riverside\" or the \"Company\"), is pleased to announce that it has completed the closing of a non-brokered private placement (the \"Offering\"). This investment was accomplished with strategic investors, many of whom have previously supported Riverside in the past and further strengthens the Company's shareholder base and positions it for continued growth and future transactions.The Offering comprised of 18,460,000 hard-dollar units of the Company at a price of $0.20 per unit for gross proceeds of $3,692,000. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.30 for a period of two years from the date of issuance, subject to customary acceleration provisions. \"Riverside is in a strong financial position and this strategic additional investment by key shareholders who have stayed with us over many cycles continues our growth,\" said John-Mark Staude, President & CEO of Riverside Resources. \"Their continued support signals trust in our approach of finding and curating exploration business including spin outs to shareholders and retaining royalties.\"The Company intends to use the net proceeds of the Offering for strategic initiatives, working capital and general corporate purposes, and the advancement of its projects. Certain directors and officers participated in the Offering and acquired an aggregate of 225,000 units for total gross proceeds of $45,000. Their participation constitutes a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company relied on exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the fair market value of securities issued to insiders does not exceed 25 percent of the Company's market capitalization. The insider participation does not result in a material change in the percentage of outstanding shares of the Company held by each in...