Prospect Ridge Closes Second Tranche of Critical Metals Private Placement

Prospect Ridge Resources Corp. announced the closing of the second tranche of its non-brokered private placement of $0.075 critical mineral flow-through units. On October 21, 2026, the company issued 4,533,333 units, raising $339,999.98. Combining this with the first tranche from October 13, the total amounts to 22,468,355 units for proceeds of $1,685,125.

The company paid $21,000 in cash and issued 280,000 finder warrants in this tranche. No insiders participated in this round. With growing interest, Prospect Ridge increased the offering to up to 24,485,002 units, aiming for $1,836,375 in funds.

Proceeds will fund Canadian exploration expenses on projects like the Camelot and Excalibur projects in British Columbia. These funds align with the Income Tax Act requirements for critical mineral mining expenditures.