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Copper Ridge Arranges $200,000 Non-Brokered Private Placement
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Vancouver, BC, January 30, 2008 - Copper Ridge Explorations Inc. (the
"Company") announces that it has arranged a non-brokered private
placement of up to 1,333,333 units at a price of $0.15 per unit for
gross proceeds of up to $200,000. Each unit will consist of one
flow-through common share and one-half of one non-transferable share
purchase warrant. Each whole non-transferable share purchase warrant
will be exercisable for one non flow-through common share of the
Company for a period of 18 months from the closing date at a price of
$0.20 per share. 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 gross proceeds of the offering will be used by the Company to incur
exploration expenses that qualify as "Canadian exploration expenses"
under the Income Tax Act (Canada).
The Company'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,
the Company is exposing its shareholders to a greater chance for
discovery. The Company is anticipating an active field program on its
Yukon and British Columbia properties in 2008.
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
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Copyright (c) 2008 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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