Pacific Ridge Exploration (PEX.V) announced last week it has closed a hard dollar placement, raising C$661,000. While the company had (and has) sufficient flow-through funds to continue its exploration activities but the hard dollars are required for G&A expenses and other non-exploration expenses.
The units were priced at C$0.18 with each unit consisting of one common share and a full warrant with an exercise price of C$0.27, valid for a period of two years.
The company had a very active summer on the exploration front, and we hope to see more assay results soon.
Disclosure: The author has a long position in Pacific Ridge Exploration. Pacific Ridge is a sponsor of the website. Please read the disclaimer.
