VANCOUVER, BC / November 22, 2021 / Ridgestone Mining Inc. (TSX.V: RMI) (OTCQB: RIGMF) (FRA:4U5) ("Ridgestone" or the "Company") announces that the Company is extending the previously announced temporary reduction of the exercise price of its outstanding share purchase warrants issued on January 15, 2021 (the "First Tranche Warrants"), January 26, 2021 (the "Second Tranche Warrants") and February 1, 2021 (the "Third Tranche Warrants") (collectively, the "2021 Warrants") from CAD $0.075 for the First Tranche Warrants and the Second Tranche Warrants and from CAD$0.10 for the Third Tranche Warrants (collectively, the "Original Exercise Price") to CAD$0.05 (the "Amended Exercise Price"). The period for the foregoing exercise price reduction commenced on November 11, 2021 and was to end at the close of business on November 24, 2021 (the "Designated Exercise Period"). The Company has extended the Designated Exercise Period by five additional trading days, with the amended period to end on December 1, 2021.
Upon expiry of the extended Designated Exercise Period, the exercise price of any unexercised 2021 Warrants will revert to the Original Exercise Price for the remainder of their applicable term.
A notice of temporary warrant exercise price amendment containing further information and instructions has been sent to holders of record of the 2021 Warrants.
All other terms and conditions of the 2021 Warrants remain unchanged. The Amended Exercise Price remains subject to final acceptance of the TSX Venture Exchange.
About Ridgestone Mining Inc.
Ridgestone Mining has assembled a highly-experienced and dynamic team to explore and advance its projects in Mexico. The Guadalupe y Calvo gold-silver project, for which Ridgestone can earn a 100% interest, is host to an Indicated Resource of 356,000 gold-equivalent ounces plus an Inferred Resource of 460,000 gold-equivalent ounces. Ridgestone’s 100%-owned Rebeico copper-gold project has high-grade copper and gold pervasive throughout the property with highlights including 1.56% copper plus 1.80 g/t gold intersected over 19.3 metres from surface at the New Year Zone and 2.78% copper plus 8.69 g/t gold over 2.0 metres from the Alaska Vein.
For further information, please contact:
Rad Rajaram – Manager Corporate Relations and Business Development
This news release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. In this news release such statements include but are not limited to any ongoing drilling programs, timing of such programs, or exploration results. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including those described in the Company's regulatory filings available on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
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.