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| August 04, 2009 Copper Ridge Shareholders Approve Private Placement | |
| Vancouver, BC, August 4, 2009 -- Copper Ridge Explorations Inc. ("Copper Ridge" or the "Company") announces that at the Company's Annual and Special General Meeting held earlier today, it received shareholder approval to the non-brokered private placement with Platoro West Holdings Inc. ("Platoro") announced by news release dated May 29, 2009. In accordance with the Subscription and Distribution Agreement dated May 28, 2009, as amended, Platoro has subscribed for up to 100,000,000 common shares (the "Shares") in the capital of the Company (the "Private Placement") at a subscription price of $0.03 per share for total proceeds of $3,000,000. Issuance of the Shares to Platoro will result in the creation of a new Control Person (as such term is defined in the TSX Venture Exchange Corporate Finance Manual), however, following the closing of the Private Placement, Platoro intends to distribute the Shares to its shareholders. Closing of the Private Placement is subject to several conditions precedent including receipt of all required regulatory approvals. At the Meeting, shareholders re-elected Gerald G. Carlson, Mark Fields, Gordon J. Fretwell, Alan C. Savage and J. Greg Dawson as directors of the Company. Contact: Gerald G. Carlson, President & CEO Copper Ridge Explorations Inc. Suite 500 -- 625 Howe Street Vancouver, B.C. V6C 2T6 Phone: 604-688-0833; 1-888-278-2288 info@copper-ridge.com TSX Venture Exchange -- KRX Pink Sheets -- CRXOF Berlin -- 502845 This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. | |
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