VANCOUVER, Feb. 29, 2016 /CNW/ - Sky Ridge Resources Ltd. (the "Company") (TSXV: SYR.H) announces that further to its news release dated February 22, 2016, it has closed its non-brokered private placement on February 26, 2016 consisting of 1,600,000 units (the "Units") at a price of $0.125 per Unit for gross proceeds of $200,000 (the "Private Placement"). Each Unit consists of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant is exercisable into one Common Share at an exercise price of $0.20 until February 26, 2017. The securities issued in connection with the Private Placement are subject to a hold period of four months and a day expiring on June 27, 2016. Proceeds will be used for general working capital and for continuing to research opportunities in the natural resources sector.
ON BEHALF OF THE BOARD OF
DIRECTORS OF SKY RIDGE RESOURCES LTD.
Neither 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.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
SOURCE Sky Ridge Resources Ltd.
For further information: Jeff Durno, Director, Tel: (604) 609-6110