High Ridge Resources Announces Private Placement
10 Luglio 2008 - 12:00PM
Marketwired Canada
High Ridge Resources Inc. ("High Ridge" or the "Company") (TSX VENTURE:HRR) is
pleased to announce a non-brokered private placement consisting of up to
8,333,333 units ("Units") at a price of C$0.30 per Unit, for gross proceeds of
up to C$2,500,000.
Each Unit will consist of one previously unissued common share, and one share
purchase warrant ("a Warrant") of the Issuer. Each Warrant will entitle the
holder, on exercise, to purchase one additional common share of the Issuer (a
"Warrant Share") for a period of 24 months from the date of issue of the Warrant
at the following CDN exercise prices: (i) $0.45 per share from the Closing until
the close of business on the day which is 8 months after Closing;
(ii) thereafter at $0.55 per share until the close of business on the day which
is 16 months after Closing; and (iii) thereafter at $0.65 per share until the
close of business on the day which is 24 months after Closing.
The Company will pay a finders fee of up to 8% of the proceeds of the Offering
payable in cash or Units.
About High Ridge Resources Inc.:
High Ridge is focused on large scale exploration projects in British Columbia
and Peru. In addition to the Peruvian gold and polymetallic projects, High Ridge
has three advanced exploration projects in British Columbia. These properties
include the Chuchi property (Cu-Au porphyry), 30 km northwest of Terrane's Mt.
Milligan project; Newton Mountain (Au-Cu porphyry), 35 km north of Taseko Mine's
Prosperity project - formerly Fish Lake (Au-Cu porphyry); and the Silver Bay
(Ag, Pb, Zn, and Cu porphyry) project, 10 km south of Cominco's former Bluebell
mine.
Forward Looking Statements: The above contains forward looking statements that
are subject to a number of known and unknown risks, uncertainties and other
factors that may cause actual results to differ materially from those
anticipated in our forward looking statements. Factors that could cause such
differences include: changes in world commodity markets, equity markets, costs
and supply of materials relevant to the mining industry, change in government
and changes to regulations affecting the mining industry. Forward-looking
statements in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure issues and
mineral recovery processes. Although we believe the expectations reflected in
our forward looking statements are reasonable, results may vary, and we cannot
guarantee future results, levels of activity, performance or achievements.
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