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Greenridge Exploration Inc. (“Greenridge” or the “Firm”) (CSE: GXP,OTC:GXPLF | FRA: HW3 | OTCQB: GXPLF), pronounces that additional to its December 1, 2025 information launch, the Firm has closed its non-brokered non-public placement of flow-through models (every, a “FT Unit”) for mixture gross proceeds of $2,035,977.65 (the “Providing”). The Firm has issued 5,817,079 FT Items at a worth of $0.35 per FT Unit, with every FT Unit comprised of 1 (1) frequent share of the Firm (every, a “Frequent Share”) issued on a flow-through foundation below the Revenue Tax Act (Canada) (every, a “FT Share”) and one Frequent Share buy warrant (every entire warrant, a “Warrant”). Every Warrant entitles the holder to buy one Frequent Share of the Firm at a worth of $0.40 for a interval of 24 months from the date of issuance.
The gross proceeds from the sale of the FT Items shall be utilized by the Firm to incur eligible “Canadian exploration bills” that may qualify as “flow-through mining expenditures” as such phrases are outlined within the Revenue Tax Act (Canada) (the “Qualifying Expenditures“) associated to the Firm’s initiatives in Canada. All Qualifying Expenditures shall be renounced in favour of the subscribers of the FT Items efficient December 31, 2025.
The Providing constitutes a “associated social gathering transaction” throughout the that means of Multilateral Instrument 61-101 – Safety of Minority Safety Holders in Particular Transactions (“MI 61-101“) as (1) Warren Stanyer, a director of the Firm, subscribed for an mixture of 21,000 FT Items for mixture proceeds of $7,350; (2) Mandeep Parmar, a director of the Firm, subscribed for an mixture of 142,857 FT Items for mixture proceeds of $49,999.95; and (3) Russell Starr, the Chief Government Officer and a director of the Firm, subscribed for an mixture of two,000,000 FT Items for mixture proceeds of $700,000. The Firm relied on the exemptions from the valuation and minority shareholder approval necessities of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 with respect to the insider participation within the Providing because the truthful market worth of the consideration of the securities issued to the associated social gathering didn’t exceed 25% of the Firm’s market capitalization. The Firm didn’t file a fabric change report in respect of the participation of the insiders within the Providing no less than 21 days earlier than closing of the Providing because the participation of the insiders was not decided at the moment.
All securities issued in reference to the Providing are topic to a statutory maintain interval of 4 months and someday.
The securities issued pursuant to the Providing haven’t been, nor will they be, registered below the USA Securities Act of 1933, as amended, and is probably not provided or bought inside the USA or to, or for the account or good thing about, U.S. individuals within the absence of U.S. registration or an relevant exemption from the U.S. registration necessities. This information launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase nor shall there be any sale of the securities in the USA or in another jurisdiction through which such provide, solicitation or sale could be illegal.
About Greenridge Exploration Inc.
Greenridge Exploration Inc. (CSE: GXP,OTC:GXPLF | OTCQB: GXPLF | FRA: HW3) is a mineral exploration firm devoted to creating shareholder worth via the acquisition, exploration, and growth of important mineral initiatives in Canada. The Firm owns or has pursuits in 21 initiatives and extra claims masking roughly 281,100 hectares with appreciable publicity to potential uranium, lithium, nickel, copper and gold discoveries. The Firm is led by an skilled administration staff and board of administrators with important experience in capital elevating and advancing mining initiatives.
Greenridge has one of many largest uranium property portfolios in Canada consisting of 13 initiatives and extra potential claims masking roughly 194,350 hectares. The Firm has alternatives to comprehend worth in an additional 8 strategic metals initiatives which embody lithium, nickel, gold, and copper exploration properties totalling roughly 86,750 hectares. Mission highlights embody:
- The Black Lake property, positioned within the NE Athabasca Basin, (40% Greenridge, 50.43% UEC, 8.57% Orano Canada) noticed a 2004 discovery gap (BL-18) return 0.69% U3O8 over 4.4m.1
- The Hook-Carter property (20% Greenridge, 80% Denison Mines Corp.) is strategically positioned within the SW Margin of the Athabasca Basin, sitting ~13km from NexGen Vitality Ltd.’s Arrow deposit and its newly-discovered Patterson Hall East, and ~20 km from Paladin Vitality’s Ltd.’s Triple R deposit.
- The Gibbons Creek property hosts high-grade uraniferous boulders positioned in 2013, with grades of as much as 4.28% U3O82, and the McKenzie Lake challenge noticed a 2023 prospecting program return three anomalous rock samples, which included analytical values of 844 ppm U-total (0.101% U3O8), 273 ppm U-total, and 259 ppm U-total.3
- The Nut Lake property positioned within the Thelon Basin contains historic drilling which intersected as much as 9 ft of 0.69% U3O8 together with 4.90% U3O8 over 1 ft from 8ft depth.4 In 2024, Greenridge’s prospecting program positioned a float pattern that returned 31.13% U3O8, sourced from the Tundra Displaying.5
- The Firebird Nickel property has seen two drill packages (7 holes totaling 1,339 m), the place gap FN20-002 intersected 23.8 m of 0.36% Ni and 0.09% Cu, together with 10.6 m of 0.55% Ni and 0.14% Cu.6
- The Electra Nickel challenge 2022 drill program included outcomes of 2,040 ppm Ni over 1 m and 1,260 ppm Ni over 3.5 m.7
The Firm is concerned with strategic partnerships, which embody uranium initiatives being operated and superior by Denison Mines Corp. and Uranium Vitality Corp. The Firm’s administration staff, board of administrators, and technical staff brings important experience in capital elevating and advancing mining initiatives and is poised to draw new buyers and lift future capital.
References:
1 – Black Lake: UEX Company Information Launch dated October 12, 2004.
2 – Gibbons Creek: Lakeland Assets Inc. Information Launch dated January 8, 2014.
3 – McKenzie Lake: ALX Assets Corp. New Launch dated November 7, 2023.
4 – Nut Lake: 1979 Evaluation Report (Quantity 81075) by Pan Ocean Oil Ltd.
5 – Nut Lake: Greenridge Exploration Inc. Information Launch dated February 19, 2024.
6 – Firebird Nickel: ALX Assets Corp. New Launch dated April 15, 2020.
7 – Electra Nickel: ALX Assets Corp. New Launch dated July 20, 2022.
On Behalf of the Board of Administrators of Greenridge
Russell Starr
Chief Government Officer, Director
Phone: +1 (778) 897-3388
Electronic mail: information@greenridge-exploration.com
Disclaimer for Ahead-Trying Info
This information launch contains sure “Ahead-Trying Statements” throughout the that means of the USA Non-public Securities Litigation Reform Act of 1995 and “forward-looking info” below relevant Canadian securities legal guidelines. When used on this information launch, the phrases “anticipate”, “imagine”, “estimate”, count on”, “goal”, “plan”, “forecast”, “could”, “would”, “may”, “schedule” and related phrases or expressions, determine forward-looking statements or info.
Ahead-looking statements and forward-looking info regarding any future mineral manufacturing, liquidity, enhanced worth and capital markets profile of Greenridge, future development potential for Greenridge and its enterprise, and future exploration plans are primarily based on administration’s cheap assumptions, estimates, expectations, analyses and opinions, that are primarily based on administration’s expertise and notion of traits, present situations and anticipated developments, and different elements that administration believes are related and cheap within the circumstances, however which can show to be incorrect. Assumptions have been made relating to, amongst different issues, the value of uranium, nickel, copper, gold, cobalt and different metals; prices of exploration and growth; the estimated prices of growth of exploration initiatives; Greenridge’s skill to function in a protected and efficient method and its skill to acquire financing on cheap phrases.
This information launch comprises “forward-looking info” throughout the that means of the Canadian securities legal guidelines. Statements, apart from statements of historic reality, could represent ahead wanting info and embody, with out limitation, statements with respect to the Providing and the meant use of proceeds therefrom; the Firm’s targets, objectives or future plans; and the graduation of exploration packages sooner or later. With respect to the forward-looking info contained on this information launch, the Firm has made quite a few assumptions relating to, amongst different issues, the geological, metallurgical, engineering, monetary and financial recommendation that the Firm has obtained is dependable and are primarily based upon practices and methodologies that are according to trade requirements. Whereas the Firm considers these assumptions to be cheap, these assumptions are inherently topic to important uncertainties and contingencies. Moreover, there are recognized and unknown danger elements which may trigger the Firm’s precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking info contained herein. Recognized danger elements embody, amongst others: fluctuations in commodity costs and foreign money alternate charges; uncertainties regarding interpretation of properly outcomes and the geology, continuity and grade of copper, gold, tungsten, antimony and different metallic deposits; uncertainty of estimates of capital and working prices, restoration charges, manufacturing estimates and estimated financial return; the necessity for cooperation of presidency companies within the exploration and growth of properties and the issuance of required permits; the necessity to acquire further financing to develop properties and uncertainty as to the provision and phrases of future financing; the potential for delay in exploration or growth packages or in development initiatives and uncertainty of assembly anticipated program milestones; uncertainty as to well timed availability of permits and different governmental approvals; elevated prices and restrictions on operations as a consequence of compliance with environmental and different necessities; elevated prices affecting the metals trade and elevated competitors within the metals trade for properties, certified personnel, and administration. All forward-looking info herein is certified in its entirety by this cautionary assertion, and the Firm disclaims any obligation to revise or replace any such forward-looking info or to publicly announce the results of any revisions to any of the forward-looking info contained herein to mirror future outcomes, occasions or developments, besides as required by regulation.
The Canadian Securities Change (CSE) doesn’t settle for accountability for the adequacy or accuracy of this launch.
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