# Prospect Ridge closes first critical-minerals flow-through tranche > The company raised C$1.345 million gross from 17.94 million flow-through units; proceeds are earmarked for British Columbia projects. - Canonical URL: https://newsverum.com/en/news/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026 - Publisher: Newsverum - Section: Business - Country: Canada - Published: 2026-10-15T23:21:07+00:00 - Updated: 2026-10-15T23:21:07+00:00 - Event / data period: 2026-10-13 - Other editions: [Türkçe](https://newsverum.com/tr/news/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026.md), [العربية](https://newsverum.com/ar/news/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026.md), [Français](https://newsverum.com/fr/news/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026.md), [Español](https://newsverum.com/es/news/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026.md), [Deutsch](https://newsverum.com/de/news/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026.md), [Português](https://newsverum.com/pt/news/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026.md) Prospect Ridge Resources announced on October 13 the first closing of its critical-minerals flow-through financing. It sold 17,935,002 units at C$0.075 each for gross proceeds of C$1,345,125.15. Proceeds will fund exploration and development expenditures on the company’s British Columbia mineral projects. Prospect Ridge cited a planned 2,500-metre drill program at Camelot near Horsefly and preparations for work at Excalibur. This is a financing closing, not evidence that drilling has occurred or produced a discovery. ## Data ### Gross proceeds from the first financing tranche Gross amount from the sale of 17,935,002 flow-through units. Methodology: The amount expresses the company-reported C$1,345,125.15 gross proceeds in millions of Canadian dollars; fees and expenses are not deducted. | label | value | unit | period | basis | value_qualifier | |---|---|---|---|---|---| | First-tranche gross financing proceeds | 1.34512515 | million CAD | 2026-10-13 | observed | exact | Sources: · Download data: [JSON](https://newsverum.com/api/v1/articles/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026/data/reported-figure?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026/data/reported-figure?lang=en&format=csv) ### Gross proceeds from the first financing tranche Gross amount from the sale of 17,935,002 flow-through units. Methodology: The amount expresses the company-reported C$1,345,125.15 gross proceeds in millions of Canadian dollars; fees and expenses are not deducted. | date | label | description | status | |---|---|---|---| | 2026-10-13 | First financing tranche closed | Prospect Ridge raised gross proceeds by selling 17,935,002 units; the source describes Camelot drilling as planned work. | occurred | Sources: · Download data: [JSON](https://newsverum.com/api/v1/articles/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026/data/reported-event?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/prospect-ridge-first-tranche-critical-minerals-flow-through-october-2026/data/reported-event?lang=en&format=csv) ## Sources - [Prospect Ridge Resources Corp.]() (Source checked: 2026-10-15; Published: 2026-10-13) --- Cite the canonical URL above. [Editorial standards and corrections](https://newsverum.com/en/editorial)