sur Prospect Ridge Resources Corp (CVE:PRR)
Prospect Ridge Announces New Funding Initiative
Prospect Ridge Resources Corp., a company based in Vancouver, has revealed plans for a non-brokered private placement aiming to raise $800,000. This initiative involves issuing up to 8,888,889 flow-through units at $0.09 per unit. Each unit includes one flow-through common share and half a warrant, with whole warrants available at $0.15 for two years post-closure.
President and CEO Len Brownlie highlighted the success of their 2025 exploration, identifying new drill targets on significant projects. The funds from this offering will support Prospect Ridge's 2026 drill programs. The projects involved include Excalibur, Castle, and Camelot in British Columbia.
The offering is contingent on receiving necessary approvals, with all securities subject to a hold period of four months plus one day. This initiative marks a careful strategy to address potential shortages in drilling resources expected in mid-2026.
R. E.
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