Vancouver, British Columbia--(Newsfile Corp. - July 10, 2026) - Bayridge Resources Corp. (CSE: BYRG) (OTCQB: BYRRF) (FSE: O0K0) ("Bayridge" or the "Company") is pleased to announce that further to its news release dated June 1, 2026, it has closed the first tranche of its non-brokered private placement issuing 1,200,000 units ("Units") at a price of $0.20 per Unit for gross proceeds of $240,000.00 (the "Offering").
Each Unit is comprised of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant exercisable for one additional common share (a "Warrant Share") at a price of $0.30 per Warrant Share for a period of 24 months from the date of issuance.
Proceeds from the sale of the Units are intended to be used for general working capital purposes including to fund exploration work on the Company's Baker Lake Uranium Project and Waterbury East Project, as well as the evaluation of additional mineral property opportunities.
Concurrent Non-Brokered Flow Though Private Placement
The Company is also pleased to announce that it has closed the first tranche of its concurrent non-brokered private placement issuing 2,076,667 flow-through units ("FT Units") at a price of $0.225 per FT Unit for aggregate gross proceeds of $467,250.08 (the "Concurrent Offering").
Each FT Unit is comprised of one common share issued on a flow-through basis under the Income Tax Act (Canada) and one-half of one common share purchase warrant (each whole warrant a "FT Warrant") with each FT Warrant exercisable for one additional common share (a "FT Warrant Share") at a price of $0.30 per FT Warrant Share for a period of 24 months from the date of issuance.
Proceeds from the sale of the FT Units are intended to be used to incur "Canadian exploration expenses" as defined in the Income Tax Act (Canada).
In connection with the Offering and the Concurrent Offering, the Company paid an aggregate of $37,677.50 in cash finder's fees and issued 174,415 finder's warrants to certain arms-length parties who assisted in introducing subscribers to the Offering and the Concurrent Offering.
All securities issued under the Offering and the Concurrent Offering will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange (the "CSE").
Completion of the Offering and Concurrent Offering are subject to certain conditions including the receipt of all necessary approvals, including the approval of the CSE.