Well we should be just about through all that 10 cent paper that came free trading on October 5th. Maybe now the stock will move up a bit.
Pacific Ridge Exploration Ltd. (the "Company") announces that it has received TSX Venture Exchange acceptance for final filing documentation with respect to a Non-Brokered Private Placement (the "Private Placement") announced on March 20 and May 22, 2003. The Company has received gross proceeds in the amount of $750,000 from the placement of 7,500,000 Units (the "Units"). Each Unit was priced at $0.10 and consists of one common share and one non-transferable share purchase warrant entitling the holder to purchase one additional common share until June 5, 2005 at a price of $0.15 per share. In connection with the placement of certain of the Units, finders' fees in the amount of 199,150 Units were paid.
The securities issued all have a four-month hold period ending October 5, 2003.
Proceeds from the private placement will be used for exploration expenditures on the Company's Golden Arrow Project near Tonopah, Nevada as well as general corporate purposes.
As previously reported, drilling at Golden Arrow, contingent on receipt of permits, is scheduled for start-up in the first week of July.
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