Greenridge Exploration Raises $2 Million in Flow-Through Financing for Canadian Exploration

The latest update is out from Greenridge Exploration Inc ( (TSE:GXP) ).

Greenridge Exploration Inc. has closed a non-brokered flow-through private placement financing, raising approximately $2.04 million through the issuance of 5,817,079 flow-through units priced at $0.35 each, with attached warrants exercisable at $0.40 for two years. The proceeds will be directed toward eligible Canadian exploration expenses that qualify as flow-through mining expenditures on its Canadian projects, with the tax benefits renounced to subscribers effective December 31, 2025; insider participation by directors and the CEO made the financing a related-party transaction under securities rules, though the company used available exemptions from valuation and minority approval requirements, and all securities issued are subject to a four-month-plus-one-day hold period and are not registered for sale in the United States.

More about Greenridge Exploration Inc

Greenridge Exploration Inc. is a Vancouver-based mineral exploration company focused on acquiring, exploring and developing critical mineral projects in Canada. The company holds interests in 21 projects and additional claims covering roughly 281,100 hectares, with significant exposure to potential uranium, lithium, nickel, copper and gold discoveries. Greenridge has one of the largest uranium property portfolios in Canada, with 13 uranium projects and further strategic metals assets, including notable positions in the Athabasca Basin such as the Black Lake and Hook-Carter properties, and is led by a management team experienced in capital raising and advancing mining projects.

Average Trading Volume: 65,414

Technical Sentiment Signal: Sell

Current Market Cap: C$19.31M

For an in-depth examination of GXP stock, go to TipRanks’ Overview page.