Greenridge Exploration announced today the successful closure of a non-brokered private placement financing, raising $4,947,433.92. This marks the second tranche of the company’s flow-through offering, aimed at supporting its extensive exploration projects across Canada.
The company issued 5,622,084 flow-through units, priced at $0.88 per unit. Each unit consists of one flow-through share and a half warrant, which grants the right to purchase one common share at $1.15 for 36 months. The funds will be allocated to eligible Canadian exploration expenses, benefiting Greenridge’s mineral exploration projects in uranium and copper.
Use of Proceeds
The gross proceeds from the financing will be used specifically for “Canadian exploration expenses” that qualify under the Income Tax Act (Canada), helping the company advance its critical mineral exploration work in North America. Greenridge expects to renounce these expenditures to the subscribers.
Finder’s Fees
Greenridge paid finder’s fees totaling $167,923.03 and issued 210,586 warrants to finders. Each warrant entitles the holder to acquire one common share at $1.15 for 36 months from the issuance date.
Marketing Agreement
Greenridge also entered a six-month agreement with RMK Marketing Inc. (RMK) for strategic marketing services. RMK will focus on optimizing Greenridge’s online presence through AdWords campaigns and digital marketing strategies. The company has committed $150,000 CDN for the campaign, with an option to extend the budget to $400,000 CDN. This partnership enhances the company’s market visibility, especially in the competitive mining industry.
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