Transactions

Peterson McVicar Acts for Red Cloud in C$5.0M Bought Deal Private Placement with Pacific Ridge

On December 1, 2022 Pacific Ridge Exploration Ltd. ("Pacific Ridge" or the "Company") announced that it had entered into an agreement with Red Cloud Securities Inc. ("Red Cloud") to act as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (the "Underwriters"), pursuant to which the Underwriters have agreed to purchase for resale 15,625,000 flow-through units of the Company (each, a "FT Unit") at a price of C$0.32 per FT Unit (the Offering Price") for gross proceeds of C$5,000,000.

Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" (each, a "FT Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.40 at any time on or before that date which is 24 months after the closing date of the Offering.

Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTCQB: PEXZF) flagship project is the Kliyul copper-gold project, located in the prolific Quesnel Trough, approximately 50 km southeast of Centerra Gold Inc.'s Kemess mine.

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