Greenridge arranges $3.0M placement with International Energy Partner

VANCOUVER, British Columbia, July 20, 2026 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (" Greenridge " or the " Company ") ( CSE: GXP | OTC: GXPLF | FRA: HW3 ), has arranged a non-brokered private placement (the “ Offering ”) with a leading conglomerate from a Southeast Asian nation (the “ Corporate Investor ”). The Corporate Investor is a well-established entity with extensive interests and expertise in the global energy sector and will acquire approximately a 17.17% non-diluted ownership in the Company, based on the current share structure, through an initial investment of $3.0 million (CDN) for 13,111,888 units at $0.2288 per unit (each, a “ Unit ”).

As part of the Offering, the Company and the Corporate Investor anticipate entering into a sale and purchase agreement (the “ Agreement ”) pursuant to a standard investment license application in the area of origin of the Corporate Investor. The Agreement is expected to provide the Corporate Investor with the right to participate in future financings of the Company on a pro rata basis, as well as certain board observer rights, contingent on the Corporate Investor maintaining ownership of at least 5% of the outstanding shares of the Company.

“ We're pleased to welcome this global energy partner as a strategic investor in Greenridge ," said Russell Starr, Chief Executive Officer of Greenridge Exploration Inc. " This $3.0 million private placement reflects the confidence that this leading South Asian conglomerate has placed in our team and our portfolio of mineral projects. The proceeds are expected to accelerate our exploration programs, and we look forward to advancing our projects as we work toward our next milestones. ”

Each Unit of the Offering to the Corporate Investor will be comprised of one (1) common share in the capital of the Company (a “ Share ”) and one-half (1/2) of one (1) Share purchase warrant (a “ Warrant “). Each full Warrant will entitle the Corporate Investor to acquire one additional Share at a price of $0.34 for thirty-six (36) months from closing of the Offering.

The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate, regulatory approvals and shareholder approvals (as applicable), including the Canadian Securities Exchange (the “ CSE ”).

There are no finder’s fees payable with respect to this Offering.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act “), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.