Prospect Ridge Announces Closing of Flow-Through Share Private Placement

About this update from Prospect Ridge Resources Corp.

VANCOUVER, BC / ACCESS Newswire / March 18, 2026 / Prospect Ridge Resources Corp Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR)(OTC: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 shares (the "FT Shares") announced on March 6, 2026 (see news release for details) issuing an aggregate of 5,000,000 flow-through shares for gross proceeds of $450,000 to a Canadian flow-through fund that has been a long time supporter of the Company. In connection with the closing, the Company paid finder fees of $31,500 in cash and 350,000 warrants exercisable to purchase one non-flow-through common share of the Company at a price of $0.15 for a period of two years after closing. The Finder 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. All securities issued in the placement are subject to a statutory hold period expiring on July 19, 2026. Use of Proceeds of the Offering The Company intends to use the gross proceeds from the FT Placement to incur, on its mineral projects in British Columbia, eligible "Canadian exploration expenses" that will also qualify as "flow-through critical mineral mining expenditures" under the Income Tax Act (Canada). The Company intends to allocate the funds to its 2026 drill programs at one or more of the Company's Excalibur, Castle and Camelot projects. The securities to be offered under the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (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 the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Prospect Ridg...

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