Prospect Ridge Closes Second Tranche of Flow-Through Private Placement

Prospect Ridge Resources Corp. has completed the second tranche of its non-brokered flow-through private placement, raising $288,800.04. The placement issued 2,406,667 flow-through units at $0.12 per unit. Additionally, the company paid out $4,102.21 in cash and issued 34,183 finder warrants, exercisable at $0.18. The securities are subject to a hold period until March 14, 2026.

Insiders acquired 963,333 units, representing around 40.03% of the issuance. These actions are classified as a "related party transaction," but the company relies on exemptions under MI 61-101 due to certain financial thresholds. The proceeds will fund exploration expenses, primarily on the Camelot project in British Columbia.