Perhaps faster than expected, Pacific Ridge Exploration (PEX.V) is completing a flow-through placement priced at C$0.142 per unit to raise a total of C$1.14M by issuing 8 million units. Each unit will consist of one share of Pacific ridge as well as half a warrant with each full warrant allowing the warrant holder to acquire an additional share of Pacific Ridge Exploration at C$0.15 for a period of 15 months. The sole subscriber to the financing is DELPHI AG, a German outfit related to Deutsche Balaton.
With the capital raise now being completed, CEO Blaine Monaghan will have the funds to drill Kliyul. We recently published an interview with Monaghan wherein we discussed the merits of the Kliyul copper-gold porphyry exploration project and you can re-read the interview HERE.
In addition to raising the cash, Pacific Ridge also appointed Jim Logan to its newly established technical advisory committee. Logan seems to be the right man in the right place as he is an expert on porphyry copper deposits in British Columbia.
Disclosure: The author has no position in Pacific Ridge Exploration. Pacific Ridge is a sponsor of the website. Please read our disclaimer.