Greenridge Exploration announces that it proposes to undertake a non-brokered private placement of up to 10,526,315 units, at a purchase price of $0.38 per Unit, to raise total gross proceeds of up to $4,000,000. Each Unit will consist of one common share of the Company and one transferable common share purchase warrant. Each Warrant will entitle the holder to acquire one additional Share at an exercise price of $0.45 for a period of 24 months from the closing date. The Company will use the proceeds from the Placement towards exploration on the Company’s Nut Lake and Weyman properties and for general working capital purposes. The Units will be offered to qualified investors in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. The Company will pay find