(TheNewswire)
July 10, 2024 – TheNewswire – GOLDEN RIDGE RESOURCES LTD. (TSX-V:GLDN) (" Golden Ridge " orthe " Company ") is pleased to provide an updateon its previously announced acquisition of an 80% interest in MM Group Ltda. (“ MMG ”). The Company and MMG continue to workdiligently towards the completion of the proposed transaction, whichwould, if completed, result in a reversetakeover of the Company by MMG.
The proposed transaction remains subject to requisiteapprovals, including the approval of the TSX Venture Exchange (the“ Exchange ”). At the Company's request,trading in Golden Ridge’s shares was voluntarily halted in June 2024upon the Company entering into a definitive agreement with MMG.Trading is expected to remain halted until the completion orabandonment of the transaction .
About GoldenRidge
Golden Ridge is a TSX-V listedexploration company engaged in acquiring and advancing mineralproperties located in British Columbia and Newfoundland . Golden Ridge owns a 100% interest in the 1,700-hectareHank copper-gold-silver-lead-zinc property located in the GoldenTriangle district, approximately 140 kilometres north of Stewart,British Columbia and has a portfolio of exploration projects inNewfoundland.
ON BEHALF OF THE BOARD OF DIRECTORSOF
GOLDEN RIDGE RESOURCES LTD.
“Mike Blady”
Mike Blady
President and Chief Executive Officer
For more information regarding thisnews release, please contact:
Mike Blady, CEO and Director
T: 250-717.3151
W: www.goldenridgeresources.com
Completion of theproposed transaction is subject to a number of conditions, includingbut not limited to, Exchange acceptance and if applicable pursuant toExchange requirements, disinterested approval. Where applicable, theproposed transaction cannot close until the required shareholderapproval is obtained. There can be no assurance that the proposedtransaction will be completed as proposed or at all.
Investors arecautioned that, except as disclosed in the management informationcircular or filing statement to be prepared in connection with theproposed transaction, any information released or received withrespect to the proposed transaction may not be accurate or completeand should not be relied upon. Trading in the securities of GoldenRidge should be considered highly speculative.
The TSX VentureExchange Inc. has in no way passed upon the merits of the proposedtransaction and has neither approved nor disapproved the contents ofthis press release.
This news releasedoes not constitute an offer to sell or a solicitation of an offer tosell any of the securities in the United States. The securities havenot been and will not be registered under the United States SecuritiesAct of 1933, as amended (the “ U.S.Securities Act ”) or any state securities laws and may not be offered orsold within the United States or to U.S. Persons unless registeredunder the U.S. Securities Act and applicable state securities laws oran exemption from such registration is available.
Forward LookingInformation
This press release contains “forward-lookinginformation” within the meaning of applicable Canadian securitieslegislation. Generally, forward-looking information can be identifiedby the use of forward-looking terminology such as “plans”,“expects” or “does not expect”, “is expected”,“budget”, “scheduled”, “estimates”, “forecasts”,“intends”, “anticipates” or “does not anticipate”, or“believes”, or variations (including negative and grammaticalvariations) of such words and phrases or state that certain acts,events or results “may”, “could”, “would”, “might” or“will be taken”, “occur” or “be achieved”.
Forward-looking information in this press release mayinclude, without limitation, statements relating to: the completion ofthe proposed transaction , and all other statements that are not historical innature.
These statements are based upon assumptions that aresubject to significant risks and uncertainties, including risksregarding the mining industry, commodity prices, market conditions,general economic factors, management’s ability to manage and tooperate the business, and explore and develop its projects, and theequity markets generally. Because of these risks and uncertainties andas a result of a variety of factors, the actual results, expectations,achievements or performance of Golden Ridge may differ materially from those anticipated and indicatedby these forward-looking statements. Any number of factors could causeactual results to differ materially from these forward-lookingstatements as well as future results. Although GoldenRidge believes that the expectationsreflected in forward looking statements are reasonable, they can giveno assurances that the expectations of any forward-looking statementswill prove to be correct. Except as required by law, GoldenRidge disclaims any intention and assumeno obligation to update or revise any forward-looking statements toreflect actual results, whether as a result of new information, futureevents, changes in assumptions, changes in factors affecting suchforward-looking statements or otherwise.
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