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Copper Ridge Arranges $1.0 Million Non-Brokered Private Placement
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Vancouver, BC, March 23, 2007 - Copper Ridge Explorations Inc. (the
"Company") announces that it has arranged a non-brokered private
placement of up to 6,250,000 units at a price of $0.16 per unit for
gross proceeds of up to $1,000,000. Each unit will consist of one
common share and one-half of a share purchase warrant. Each whole share
purchase warrant will be exercisable for an additional common share of
the Company for a period of 24 months from closing at a price of $0.20
per share for the first 12 months and $0.25 per share for the remaining
12 months. In the event that the Company's common shares trade at a
closing price on the TSX Venture Exchange of greater than $0.50 per
share for a period of 20 consecutive trading days at any time after
four months and one day after the closing date, the Company may
accelerate the expiry date of the warrants by giving notice to the
holders thereof and in such case the warrants will expire on the 30th
day after the date on which such notice is given by the Company.
Finder's fees of 6% cash and 10% warrants will be paid on a portion of
the private placement. The finder's warrants will be exercisable at a
price of $0.20 per common share for a period of 12 months following the
closing date. The net proceeds of the private placement will be used
for general working capital purposes.
The offered securities will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") and may
not be offered or sold within the United States or to or for the
account or benefit of U.S. persons, except in certain transactions
exempt from the registration requirements of the U.S. Securities Act.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, securities of the Company in the
United States.
Copper Ridge's exploration philosophy focuses on maximizing the
potential for success in a high-risk business. With grass roots mineral
exploration, where the entry cost is low but the potential reward can
be very high, success will be contingent on exploration skill and on
carefully managed risk. Our management team brings tenacity, technical
skill and experience, all crucial ingredients for discovery. By
exploring a broad array of projects, focusing on the right commodities,
in areas of high mineral potential and in mining-friendly jurisdictions
and by sharing the risks on some projects with joint venture partners,
Copper Ridge is exposing its shareholders to a greater chance for
discovery.
Contact:
Gerald G. Carlson, President & CEO
Copper Ridge Explorations Inc.
Suite 500 -- 625 Howe Street
Vancouver, B.C. V6C 2T6
Phone: 604-688-0833; 1-888-278-2288
Fax: 604-688-0835
info@copper-ridge.com
TSX Venture Exchange -- KRX Pink Sheets -- CRXOF Berlin -- 502845
This release was prepared by management of the Company who takes full
responsibility for its contents. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this news release.
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Copyright (c) 2007 COPPER RIDGE EXPLORATIONS INC. (KRX) All rights
reserved. For more information visit our website at
http://www.copper-ridge.com/ or send mailto:info@copper-ridge.com
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