Ridgeline Minerals Corp has announced a non-brokered private placement of up to 10,000,000 common shares of the company at a price of $0.25 per share.
The company said the proceeds from the sale of the shares will be used to fund its exploration programs, as announced in a news release dated August 31, 2022, and for general working capital.
It noted that certain directors and officers of the company may acquire securities under the private placement, and any such participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 (MI 61-101).
READ: Ridgeline Minerals provides exploration update on Nevada and Idaho projects
The company said it may pay a finder's fee in connection with the private placement and this financing is subject to the approval of the TSX Venture Exchange.
Ridgeline said it anticipates closing of the private placement as soon as practicable subject to receipt of all necessary regulatory approvals.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
Ridgeline Minerals is a discovery-focused gold-silver explorer with a proven management team and a 163 square kilometer exploration portfolio across five projects in Nevada and Idaho, USA.
Contact the author at jon.hopkins@proactiveinvestors.com