Prospect Ridge Resources Closes Second Tranche, Raises CA$340,000

04:32 PM EDT, 10/21/2026 (MT Newswires) -- Prospect Ridge Resources (PRR.CN) after trade Wednesday said it closed the second tranche of a non-brokered private placement, issuing about 4.5-million flow-through units at CA$0.075 per unit for nearly CA$340,000. Combined with the first tranche, the company has raised about CA$1.69 million from the sale of 22.47-million units, it added. The company also said it increased the total offering to up to CA$1.84 million due to additional investor interest. The proceeds will fund eligible critical mineral exploration expenses on the company's projects in British Columbia, according to the statement. Most of the funds are expected to support a planned 2,500-metre drill program at the Camelot project near Horsefly, B.C., and preparations for an extensive spring drilling program at the Excalibur project north of Smithers, B.C., the company added. Shares of Prospect Ridge Resources closed unchanged at CA$0.055 on the Canadian Securities Exchange.