Pacific Ridge Exploration (PEX.V) has confirmed earlier this week it closed the final tranche of its previously announced financing. In this final tranche, a total of 1.06 million non-flow-through units were issued at C$0.08 per unit for total proceeds of just under C$85,000. This brings the total financing to C$1.76M with the majority of the funds raised (C$966,000) hard dollar funds while the flow-through portion brought in C$710,000. These flow-through funds will have to be spent before the end of the year.
The hard dollar portion was priced at C$0.08 while the flow-through units were priced at C$0.095. Both type of units contained a full warrant with an exercise price of C$0.12 valid for two years.
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