Greenridge Exploration (GXPLF) announced on Monday a $3M non-brokered private placement with a Southeast Asian energy conglomerate. – The investor will acquire an approximately 17.17% non-diluted stake through the purchase of 13.11M units at $0.2288 per unit. – Each unit…
cludes one common share and one-half warrant, with each full warrant exercisable at $0.34 for 36 months. – The agreement grants the investor in proportion participation rights in future financings and board observer rights, subject to maintaining at least a 5% stake. – The company plans to use the proceeds for exploration, working capital, and general corporate purposes. – Shares +25.94%