VANCOUVER, British Columbia, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP), is pleased to announce it has engaged Max Investments Inc. (“Max”) to lead exploration activities on the Company’s Weyman Copper Project (the “Project”) in southwest British Columbia. The Project is located near the town of Princeton, B.C. and sits on the southern Quesnel terrane, which can potentially be prospective for porphyry-type mineralization. Max will provide ongoing management and geological services for all upcoming exploration activities at the Project.
The Company intends to complete an initial exploration program (the “Program”) consisting of extensive soil and rock sampling throughout the Project. The Program aims to develop a better understanding of the overall geology of the Project to guide future programs.
Chief Executive Officer, Russell Starr, commented, "The expertise from Max will certainly give the Company the ability to efficiently execute work programs on the Project. The Max team brings a wealth of copper exploration experience in British Columbia and is an ideal company to lead our exploration efforts."
Warrant Exercise
The Company is also pleased to announce it has received total proceeds of $264,940 from the exercise of warrants. The proceeds will be used for future exploration work on the Project, new projects or acquisitions, corporate development and marketing or working capital purposes.
Market Maker Engagement
The Company is further pleased to announce it has appointed Independent Trading Group, Inc. (“ITG“) as a market maker for its common shares (the "Shares") traded on the Canadian Securities Exchange (“CSE“).
ITG is a leading Canadian broker-dealer, providing liquidity and execution services to clients around the world. As a market maker for Greenridge, ITG will strive to enhance the liquidity and contribute to a fair and orderly market for Greenridge’s Shares in accordance with the policies of the CSE by buying and selling Greenridge’s Shares on the CSE, as well as other alternative Canadian trading venues.
ITG is a wholly-owned subsidiary of DVX Capital Markets. The contract with ITG is on a month-to-month term and automatically renews unless terminated by either party with 30 days' notice. Under the contract, ITG will receive CDN $5,000 per month. There are no performance factors in the contract and ITG will not receive Shares or options as compensation for its services. ITG and Greenridge are unrelated and unaffiliated entities.
Marketing Agreement
The Company also announces that it has entered into an agreement (the “Agreement”) with MIC Market Information & Content Publishing GmbH (“MIC”) (address: Gerhart-Hauptmann-Str. 49b 51379 Leverkusen; email: contact@micpublishing.de) to provide marketing services for a term of 6 months, commencing January 18, 2024 (the “Term”).
MIC is an independent company which will, as appropriate, provide project management and consulting for an online marketing campaign, coordinate marketing actions, maintain and optimize AdWords campaigns, adapt AdWords bidding strategies, optimize AdWords ads and create and optimize landing pages (the “Services”). The promotional activity will occur by email, Facebook, and Google.
Under the terms of the Agreement, the Company will compensate MIC €150,000, with an option to increase the advertising budget up to €250,000 during the Term. The Company will not issue any securities to MIC as compensation for the Services. As of the date hereof, to the Company’s knowledge, MIC (including its directors and officers) does not own any securities of the Company and has an arm’s length relationship with the Company.
About Greenridge Exploration Inc.
Greenridge Exploration Inc. (CSE: GXP) is a mineral exploration company dedicated to creating shareholder value through the acquisition, exploration, and development of critical mineral projects in North America. The Company is led by an experienced management team and board of directors with significant expertise in capital raising and advancing large mining projects.
On Behalf of the Board of Directors
Russell Starr
Chief Executive Officer, Director
Telephone: +1 (778) 897-3388
Email: info@greenridge-exploration.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the project acquisition bringing a low-risk opportunity, the Company, building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are "forward-looking statements". Forward-looking statements in this news release include, but are not limited to, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; the commencement of the Program in the future; the anticipated results of the Program; the anticipated results of the market maker engagement with ITG; statements with respect to the provision of the Services by MIC. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
