Vancouver, B.C. - July 3, 2020 - Pacific Ridge Exploration Ltd. (TSX Venture: PEX) ("Pacific Ridge" or the "Company") announces that it has retained Freeform Communications Inc. ("Freeform"), a full service investor relations firm based in Vancouver, British Columbia. With over 90 years of combined experience, specializing in a full range of investor relations and capital market services, Freeform has represented a wide array of public and private clients and has assisted each in attaining their targeted goals including the raising of capital and broadening their shareholder base.
Under the consulting agreement, Freeform will provide investor and public relations services to the Company including coordinating external marketing campaigns, maintaining social media programs, arranging virtual road shows, dissemination and circulation of news releases, and assisting with private placement funding. Freeform does not presently have any interest, direct or indirect, in Pacific Ridge or its securities, nor any right or intent to acquire such an interest, other than the stock options to be granted pursuant to the consulting agreement (see below).
By way of compensation, Freeform will receive $4,000 per month over the 5 month term of the consulting agreement. In addition, the Company will grant Freeform 200,000 incentive stock options exercisable for 2 years at an exercise price per share that is the greater of: (a) $0.05 and (b) the "Discounted Market Price" as such term is defined in the policies of the TSX Venture Exchange. The Options will vest in stages over 12 months with 25% vesting each quarter. The consulting agreement is subject to TSX Venture Exchange acceptance.
About Pacific Ridge
Pacific Ridge is a well-financed junior exploration company that has assembled a portfolio of highly prospective gold and base metal projects located in the Yukon and British Columbia, where its board and management team have a track record of success. Its holdings include the new Kliyul and Redton copper-gold porphyry projects in north-central British Columbia, the Mariposa, Eureka Dome and Gold Cap gold exploration projects in the Klondike-White Gold District, Fyre Lake Cu-Au-Co massive sulphide deposit in the Finlayson District and the Spius Cu-Mo porphyry prospect in southern British Columbia.
On behalf of the Board of Directors,
"Gerald G. Carlson"
Gerald G. Carlson
President & CEO
Pacific Ridge Exploration Ltd.
For further information, contact:
Pacific Ridge Exploration Ltd.
Gerald G. Carlson
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling and other activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding the exercise of the options and future exploration plans and expenditures. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, that one of the options will be exercised, the ability of Pacific Ridge and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Pacific Ridge's proposed programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.