en.Wedoany.com Reported - Bayridge Resources Corp. (CSE: BYRG) (OTCQB: BYRRF) (FSE: O0K0) announced plans to complete a non-brokered private placement, issuing up to 5 million units at a price of C$0.20 per unit, for total gross proceeds of up to C$1 million.

Each unit consists of one common share and one-half of one common share purchase warrant. Each full warrant entitles the holder to subscribe for one additional common share at a price of C$0.30 within 24 months from the date of issuance. The proceeds from this offering are intended to be used for general working capital, including funding exploration work on the Company's Baker Lake uranium project and Waterbury East project, as well as evaluating other mineral interest opportunities.

The Company also announced a concurrent non-brokered flow-through private placement, issuing up to 5 million flow-through units (FT Units) at a price of C$0.225 per FT Unit, for total gross proceeds of up to C$1.125 million. Each FT Unit consists of one common share issued on a flow-through basis pursuant to the Canadian Income Tax Act and one-half of one common share purchase warrant, with each FT warrant entitling the holder to subscribe for one additional common share at a price of C$0.30 within 24 months from the date of issuance. Proceeds from the sale of FT Units are intended to be used to incur "Canadian exploration expenses" as defined in the Canadian Income Tax Act.

The Company may pay finder's fees in connection with the two offerings. All securities issued under the offering and concurrent offering will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws and Canadian Securities Exchange (CSE) policies. Completion of both offerings is subject to certain conditions, including obtaining all necessary approvals, including approval from the CSE.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933 or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons, unless registered or an applicable exemption is available.

Bayridge Resources Corp. is a green energy exploration company advancing a portfolio of uranium projects in Canada. The Company's 51%-owned Baker Lake uranium project consists of 83 contiguous mineral claims covering approximately 619 square kilometers in the Kivalliq Region of Nunavut. Exploration has identified a 75-kilometer-long unconformity corridor containing multiple uranium targets, supported by historical drilling and modern airborne geophysical surveys. The Company has also acquired a 40% interest in the Waterbury East project, located approximately 25 kilometers northeast of the Cigar Lake mine in the northeastern Athabasca Basin. Geophysical surveys have identified a 7-kilometer-long conductive corridor, where historical drilling in the mid-2000s encountered faulted and altered basement rocks with localized uranium enrichment. Significant portions of this corridor remain unexplored.

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