Kelowna, British Columbia – December 14, 2017 - Golden Ridge Resources Ltd. (“Golden Ridge” or the “Company”) (TSXV: GLDN) is pleased to announce a non-brokered private placement flow-through financing (the "Offering") to sell up to 3,500,000 flow-through common shares (“FT Shares”) at a price of $0.20 per share for aggregate gross proceeds of up to $700,000.
The Company will pay a finder's fee on the Offering, comprised of a cash fee equal to 6% of the gross proceeds raised from the sale of FT Shares and warrants equal to 6% of the number FT Shares issued. Each such finder warrant will entitle the holder to purchase one common share at a price of $0.25 for a period of 12 months following the applicable closing of the Offering.
The Offering remains subject to the approval of the TSX Venture Exchange (“Exchange”). The proceeds will be used by the Company for exploration activities on it Hank Property located in British Columbia. All securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period under applicable securities laws.
The FT Shares have not been, and will not be, registered under 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, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
About Golden Ridge Resources:
Golden Ridge is a TSX-V listed exploration company engaged in acquiring and advancing mineral properties located in British Columbia. Golden Ridge currently has an option to acquire a 100% interest in the 1,700-hectare Hank gold-silver-lead-zinc property located in the Golden Triangle district, approximately 140 kilometres north of Stewart, British Columbia. Golden Ridge may earn the 100% interest by performing $1.7M of exploration work by the end of 2018.
For more information please contact:
Golden Ridge Resources Ltd.
Chief Executive Officer
Tel: (250) 768-1168
Cautionary Statement Regarding Forward Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at http://www.sedar.com/ for further information.