Pacific Ridge Exploration Ltd. announced a private placement to issue up to 9,400,000 units at a price of CAD 0.08 per unit for the gross proceeds of CAD 752,000 and 6,300,000 flow-through units at a price of CAD 0.095 for the gross proceeds of CAD 598,500 for the total gross proceeds of CAD 1,350,500 on February 22, 2024. Each unit will be comprised of one common share of the company and one common share purchase warrant. Each flow-trough unit will be comprised of one common share of the company issued as a "flow-through share" within the meaning of the Income Tax Act and one warrant.

Each warrant will be exercisable to purchase one additional non-flow-through common share at an exercise price of CAD 0.12 for a period of 24 months. The company may pay finder's fees of 6% cash on a portion of the financing. The financing and payment of finder's fees are subject to TSX Venture Exchange acceptance.