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Private Placement: Pacific Ridge Exploration (TSXV:PEX)

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The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 10 million units priced at $0.15 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.23 for 24 months.

Additional Information:

Company: Pacific Ridge Exploration
Website: http://www.PacificRidgeExploration.com
Stock Symbol: TSXV: PEX
Date Published: Apr 29, 2021
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Pacific Ridge Exploration has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 10 million units priced at $0.15 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.23 for 24 months

The shares are currently trading at $0.17.

Crescat Capital LLC, a global macro asset management firm headquartered in Denver, Colorado, intends to acquire 7,000,000 units.

Crescat is advised on gold and silver resource companies by its technical consultant Dr. Quinton Hennigh.

Proceeds will be used for a 2,500-metre diamond drill program at the company’s flagship Kliyul copper-gold project, located in British Columbia, for exploration on the company's other projects, and for general working capital.

Pacific Ridge’s flagship project, the advanced-stage Kliyul copper-gold project, is located in the Quesnel Trough, approximately 50 km southeast of Centerra Gold’s Kemess project.

Thirty-three historic drill holes, totalling 5,524 metres, have been drilled at the Kliyul Main Zone since 1974, most of which targeted a near-surface copper-gold magnetite skarn zone.

Deeper drilling in 2015 encountered significant porphyry copper-gold mineralization, with hole KL-15-34 returning 245 metres of 0.62% copper equivalent.

Kevin Smith, Crescat's Chief Investment Officer, stated: "We are encouraged by this unique copper and gold system. It appears to have higher grades than other big porphyry projects in British Columbia. We are injecting capital to try to prove this thesis out. The size of the potential prize is what attracts us."

Blaine Monaghan, who was appointed President and CEO in January, added: "I'm thrilled that Crescat has recognized Kliyul's potential. Importantly, the lead order from Crescat means that the Kliyul drill program is now fully funded. We look forward to the drill turning sometime in July."

For more information, please visit the company’s website at www.PacificRidgeExploration.com, contact Blaine Monaghan, President & CEO, at 604-687-4951.

Investor Relations is handled by G2 Consultants Corp., which can be reached at 778-678-9050 or by email at ir@PacificRidgeExploration.com.

I’m Cassandra Bolinski for Investmentpitch Media