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Re: News Release - Friday, February 22, 2008
Copper Ridge Closes Non-Brokered Private Placement
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Copper Ridge Press Release No. 06/2008
Vancouver, BC, February 22, 2008 - Copper Ridge Explorations Inc. (the
"Company") announces that it has closed a non-brokered private
placement consisting of 1,346,666 Units at a price of $0.15 per Unit,
for proceeds totalling $202,000. Each unit consists of one
flow-through common share and one-half of one non-transferable share
purchase warrant. Each whole non-transferable share purchase warrant
is exercisable for one non flow-through common share of the Company
until August 19, 2009 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 June 20, 2008, 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.
Shares acquired by placees, and shares which may be acquired upon the
exercise of the share purchase warrants, are subject to a hold period
and may not be traded until June 20, 2008.
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).
In 2008, Copper Ridge shareholders will enjoy positive exposure to up
to nine drill programs funded by joint venture partners or the Company.
Drill programs are planned or being considered for the following
projects: Yukon Olympic (IOCG - Richmond Capital), Ironman (IOCG -
Vale Inco), Kalzas (tungsten - Prospector Consolidated), Joss'alun
(copper - Lomiko Resources), Scheelite Dome (gold - Riverside
Resources) and Willoughby (gold-silver - Bonterra Resources). Drilling
at the Copper Ace porphyry prospect is currently underway. In addition,
the Lucky Joe (copper-gold) and Babine (copper-gold) are being
evaluated for drill program funding by the Company and a data
compilation is underway on the Company's new Clear Lake
zinc-lead-copper deposit.
By exploring a broad array of projects, focusing on the right
commodities, in areas of high mineral potential, in mining-friendly
jurisdictions and by sharing the risks on some projects with joint
venturers, 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) 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
Message sent on Fri Feb 22, 2008 at 8:27:23 AM Pacific Time
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