Regen III Corp (GIII)

ReGen III Closes Oversubscribed Private PlacementApril 1, 2026 5:30 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - April 1, 2026) - ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4) ("ReGen III" or the "Company"), a leading clean technology company specializing in the upcycling of used motor oil ("UMO") into high-value Group III base oils, is pleased to announce that, further to its press releases dated March 4, 2026, March 23, 2026, and March 27, 2026, it has closed the third and Final tranche (the "Final Tranche") of its non-brokered private placement (the "Offering"). In connection with the Final Tranche, the Company issued 3,000,000 Units (the "Units") at a price of $0.20 per Unit for aggregate gross proceeds of $600,000. Over the course of closing the three tranches of the Offering, the Company has issued 20,187,860 Units for aggregate gross proceeds of $4,037,572.Quote from Tony Weatherill, CEO & President of ReGen III"On behalf of the entire ReGen III team, I want to extend my gratitude to our shareholders for their continued support," stated Tony Weatherill, CEO and President of ReGen III. "With Middle Eastern energy infrastructure severely impacted by regional conflict, global supplies of Group III base oils have tightened dramatically, driving sharp price increases and exposing vulnerabilities in traditional supply chains. This event underscores the growing importance of ReGen III's circular, domestically sourced base oils. With our balance sheet strengthened, our focus is on near-term commercialization opportunities to capture long-term value in a growing and increasingly strategic market."Private Placement DetailsEach Unit consists of one common share in the capital of the Company (a "Share") and one-half of one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant entitles the holder to purchase an additional Share (a "Warrant Share") at an exercise price of $0.30 per Warrant Share for a period of three (3) years from the date of issuance. All securities issued in the Final Tranche will be subject to a statutory four-month hold period ending August 2, 2026.Concurrent with the closing of the Final Tranche, the Company paid finders' fees of $5,000 in cash, for a total of $80,750 finders' fees related to the Offering. ATB Cormark Capital Markets, Canaccord Genuity Corp., Hampton Securities Limited, Haywood Securities Inc., PowerOne Capital Markets Limited, and Ullman Wealth Management Inc. acted as finders in connection with a portion of the Offering. Wildeboer Dellelce LLP acted as legal counsel to the Company.The net proceeds from the Offering are intended to be used for working capital, general corporate purposes and the repayment of debt. The closing of the Offering is subject to receipt of all necessary regulatory approvals, including final approval by the TSX Venture Exchange (the "Exchange").Insiders of the Company purchased 2,875,000 Units, representing 14.24% of aggregate Units issued in the Offering, with the associated common shares representing approximately 1.86% of the issued and outstanding common shares following the closing of the Final Tranche. If their associated warrants are then exercised, the aggregate number of common shares held by insiders would represent approximately 2.62% of the then-issued common shares on a partially-diluted basis. The participation by insiders constitutes a "related party transaction" (as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101")). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of those laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction other than as specified herein including the United States, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the 1933 Act).About ReGen IIIReGen III Corp. is driving a new era in high-performance, sustainable lubricants. Harnessing its patented ReGen™ technology, the Company is commercializing an advanced process to transform used motor oil ("UMO") into premium Group II and III base oils. These high-quality base oils are essential to high performance engines, turbines, industrial applications, and emerging applications such as data center dielectric fluids. As a circular technology, the ReGen™ process is designed to deliver up to 82% lower CO2e emissions than virgin crude derived oils combusted at end of life.With the vision of becoming the world's largest producer of sustainable, re-refined Group III base oils, ReGen III is positioning itself at the intersection of the energy transition and the data-driven economy, through the production of circular, domestically sourced Group III base oils.For more information on ReGen III or to subscribe to the Company's mailing list, please visit www.regeniii.com. For further information, please contact:Investor & Media Inquiries:
Email: investors@regeniii.com Corporate Inquiries:
Kimberly Hedlin
Vice President, Corporate Finance
Tel: (403) 921-9012
Email: info@regeniii.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Certain information other than statements of historical facts contained in this news release constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the Company's business plans, expectations, capital costs and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company's most recent Management's Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedarplus.ca under the Company's profile and on the Company's website, www.ReGenIII.com. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.Not for distribution to United States newswire services or for dissemination in the United StatesTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/290947
Original: ReGen III Closes Oversubscribed Private Placement

ReGen III Closes Second Tranche of Private PlacementMarch 27, 2026 5:01 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - March 27, 2026) - ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4) ("ReGen III" or the "Company"), a leading clean technology company specializing in the upcycling of used motor oil ("UMO") into high-value Group III base oils, is pleased to announce that, further to its press releases dated March 4, 2026 and March 23, 2026, it has closed the second tranche (the "Second Tranche") of its non-brokered private placement (the "Offering"). In connection with the Second Tranche, the Company issued 7,650,000 Units (the "Units") at a price of $0.20 per Unit for aggregate gross proceeds of $1,530,000. In combination with the Initial Tranche, the Company has issued a total of 17,187,860 Units for aggregate gross proceeds of $3,437,572. The Company now expects to close a third and final tranche of the Offering for the previously announced total gross proceeds of $4M, on or before April 1, 2026. Each Unit consists of one common share in the capital of the Company (a "Share") and one-half of one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant entitles the holder to purchase an additional Share (a "Warrant Share") at an exercise price of $0.30 per Warrant Share for a period of three (3) years from the date of issuance. All securities issued in the Second Tranche will be subject to a statutory four-month hold period ending July 28, 2026.Concurrent with the closing of the Second Tranche, the Company paid aggregate finders' fees of $47,750 in cash. The net proceeds from the Offering are intended to be used for working capital, general corporate purposes and the repayment of debt. The closing of the Offering is subject to receipt of all necessary regulatory approvals, including final approval by the TSX Venture Exchange (the "Exchange").The Second Tranche included subscriptions by insiders of the Company to purchase an aggregate of 2,875,000 Units, which constitutes a "related party transaction" (as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101")). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Offering as neither the fair market value (as determined under MI 61- 101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of those laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction other than as specified herein including the United States, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the 1933 Act).About ReGen IIIReGen III Corp. is driving a new era in high-performance, sustainable lubricants. Harnessing its patented ReGen™ technology, the Company is commercializing an advanced process to transform used motor oil ("UMO") into premium Group II and III base oils. These high-quality base oils are essential to high performance engines, turbines, industrial applications, and emerging applications such as data center dielectric fluids. As a circular technology, the ReGen™ process is designed to deliver up to 82% lower CO2e emissions than virgin crude derived oils combusted at end of life.With the vision of becoming the world's largest producer of sustainable, re-refined Group III base oils, ReGen III is positioning itself at the intersection of the energy transition and the data-driven economy, through the production of circular, domestically sourced Group III base oils.For more information on ReGen III or to subscribe to the Company's mailing list, please visit www.regeniii.com. For further information, please contact:Investor & Media inquiries:
Email: investors@regeniii.com Corporate Inquiries:
Kimberly Hedlin
Vice President, Corporate Finance
Tel: (403) 921-9012
Email: info@regeniii.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Certain information other than statements of historical facts contained in this news release constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the Company's business plans, expectations, capital costs and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company's most recent Management's Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedarplus.ca under the Company's profile and on the Company's website, www.ReGenIII.com. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.Not for distribution to United States newswire services or for dissemination in the United StatesTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/290283
Original: ReGen III Closes Second Tranche of Private Placement

ReGen III Closes First Tranche of Private PlacementMarch 23, 2026 7:00 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - March 23, 2026) - ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4) ("ReGen III" or the "Company"), a leading clean technology company specializing in the upcycling of used motor oil ("UMO") into high-value Group III base oils, is pleased to announce it has closed the first tranche (the "Initial Tranche") of its non-brokered private placement (the "Offering") announced March 4, 2026. In connection with the Initial Tranche, the Company has issued 9,537,860 Units (the "Units") at a price of $0.20 per Unit for aggregate gross proceeds of $1,907,572.00. The Company will close the second and final tranche of the Offering for the previously announced total gross proceeds of $4M, on or before March 27, 2026.Each Unit consists of one common share in the capital of the Company (a "Share") and one-half of one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant entitles the holder to purchase an additional Share (a "Warrant Share") at an exercise price of $0.30 per Warrant Share for a period of three (3) years from the date of issuance. All securities issued in the Initial Tranche will be subject to a statutory four-month hold period expiring July 24, 2026.Concurrent with the closing of the Initial Tranche, the Company paid aggregate finders' fees of $28,000 in cash. The net proceeds from the Offering are intended to be used for working capital, general corporate purposes and the repayment of debt. The closing of the Offering is subject to receipt of all necessary regulatory approvals, including final approval by the TSX Venture Exchange (the "Exchange").The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of those laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction other than as specified herein including the United States, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the 1933 Act).About ReGen IIIReGen III Corp. is driving a new era in high-performance, sustainable lubricants. Harnessing its patented ReGen™ technology, the Company is commercializing an advanced process to transform used motor oil ("UMO") into premium Group II and III base oils. These high-quality base oils are essential to high performance engines, turbines, industrial applications, and emerging applications such as data center dielectric fluids. As a circular technology, the ReGen™ process is designed to deliver up to 82% lower CO2e emissions than virgin crude derived oils combusted at end of life.With the vision of becoming the world's largest producer of sustainable, re-refined Group III base oils, ReGen III is positioning itself at the intersection of the energy transition and the data-driven economy, through the production of circular, domestically sourced Group III base oils.For more information on ReGen III or to subscribe to the Company's mailing list, please visit www.regeniii.com. For further information, please contact:Investor & Media inquiries:
Email: investors@regeniii.com Corporate Inquiries:
Kimberly Hedlin
Vice President, Corporate Finance
Tel: (403) 921-9012
Email: info@regeniii.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Certain information other than statements of historical facts contained in this news release constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the Company's business plans, expectations, capital costs and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company's most recent Management's Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedarplus.ca under the Company's profile and on the Company's website, www.ReGenIII.com. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.Not for distribution to United States newswire services or for dissemination in the United StatesTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/289643
Original: ReGen III Closes First Tranche of Private Placement

ReGen III Announces Non-Brokered Private Placement of up to $4 MillionMarch 4, 2026 5:01 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - March 4, 2026) - ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4) ("ReGen III" or the "Company"), a leading clean technology company specializing in the upcycling of used motor oil ("UMO") into high-value Group III base oils, announces that it has initiated a non-brokered private placement financing (the "Offering") of up to 20,000,000 units (the "Units") of the Company at a price of $0.20 per Unit for gross proceeds of up to $4,000,000. The net proceeds from the Offering are intended to be used for working capital, general corporate purposes and the repayment of debt.Each Unit will consist of one common share in the capital of the Company (a "Share") and one-half of one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant entitles the holder to purchase an additional Share (a "Warrant Share") at an exercise price of $0.30 per Warrant Share for a period of three (3) years from the date of issuance.The closing of the Offering is subject to receipt of all necessary regulatory approvals, including approval by the TSX Venture Exchange (the "Exchange"). In connection with the Offering, the Company may pay certain finder's fees subject to compliance with applicable securities laws and the rules of the Exchange. The securities issued pursuant to the Offering will be subject to a statutory four-month hold period.The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of those laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction other than as specified herein including the United States, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the 1933 Act).About ReGen IIIReGen III Corp. is driving a new era in high-performance, sustainable lubricants. Harnessing its patented ReGen™ technology, the Company is commercializing an advanced process to transform used motor oil ("UMO") into premium Group II and III base oils. These high-quality base oils are essential to high performance engines, turbines, industrial applications, and emerging applications such as data center dielectric fluids. As a circular technology, the ReGen™ process is designed to deliver up to 82% lower CO2e emissions than virgin crude derived oils combusted at end of life.With the vision of becoming the world's largest producer of sustainable, re-refined Group III base oils, ReGen III is positioning itself at the intersection of the energy transition and the data-driven economy, through the production of circular, domestically sourced Group III base oils.For more information on ReGen III or to subscribe to the Company's mailing list, please visit www.regeniii.com. For further information, please contact:Investor & Media inquiries:
Email: investors@regeniii.com Corporate Inquiries:
Kimberly Hedlin
Vice President, Corporate Finance
Tel: (403) 921-9012
Email: info@regeniii.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Certain information other than statements of historical facts contained in this news release constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the Company's business plans, expectations, capital costs and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company's most recent Management's Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedarplus.ca under the Company's profile and on the Company's website, www.ReGenIII.com. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.Not for distribution to United States newswire services or for dissemination in the United StatesTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/286277
Original: ReGen III Announces Non-Brokered Private Placement of up to $4 Million

ReGen III is developing a re-refining facility in Texas City, TX, with nameplate capacity of 5,600 bpd of UMO. The facility will utilize ReGen III’s patented ReGen™ technology to produce Group III and Group II+ base oils and other products.

To date, ReGen III has completed FEL-2 and Value Engineering as part of the Front End Engineering and Design (“FEED”) phase, and is projecting the Texas Facility will be commissioned 24-30 months following a Final Investment Decision (“FID”). ReGen III has also secured feedstock LOIs and signed a letter of intent with Advario North America (“Advario”). Subject to successful negotiation of the site lease and terminal services agreement, it is ReGen III’s intention to locate its Texas project on Advario’s brownfield terminal site in Texas City in order to take advantage of the extensive storage and logistics infrastructure already in place.


Alberta is a proposed location for a secondary project after Texas. The proposed facility will process 2,800 bpd of used motor oil into Group III and Group II+ base oils, and other products.

ReGen III reviewed several potential development sites in Alberta and has narrowed these down to a short-list, based on the criteria of existing and supportive infrastructure and suitable property purchase costs and/or lease rates.

https://www.regeniii.com/projects/texas/

ReGen III Corp



The stock price seems to have bottomed out and OBV is positive.

Weekly Chart

Gen III Oil Corp. changed to Regen III Corp.

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

New record high today of $1.55cdn Boom!

Wow on the Canadian Side we’ve already been up 28% today !

This is my favourite stock of 2021 so far. And barely anyone talks about it in any online forums. Guess there are no flippers

I'm surprised this is empty. See you guys in space.

PNG Gold Corp. changed to Gen III Oil Corp.:

http://otce.finra.org/DLSymbolNameChanges

Big news coming here get in while you can. PNG has selected a site, filed for a name change and will be building a used oil refining facility. Acquisition of Verolube is complete $$$$

Nice move north today up another 30%.
Too bad this is under the radar for many investors.
I got a target of $3.00 and it would not take much volume to reach it.

International Silver Ridge Resources Inc. and NMC Mining Corp. Provide Update on Proposed Business Combination: Trading in Silver Ridge Shares Resumes

Apr. 13, 2011 (Marketwire Canada) --

VANCOUVER, BRITISH COLUMBIA --

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

International Silver Ridge Resources Inc. ("Silver Ridge") (TSX VENTURE:SR.H) and NMC Mining Corp. ("NMC") are pleased to provide an update on their proposed business combination (the "Business Combination"), and to announce that trading in Silver Ridge Shares on the NEX board of the TSX Venture Exchange will resume effective as of the open of market on April 14, 2011.

On August 26, 2010, Silver Ridge and NMC announced that they had entered into an agreement (the "Master Agreement") with an effective date as of August 11, 2010 providing for the acquisition by Silver Ridge of NMC, a private company existing under the federal laws of Canada. NMC, through its wholly-owned subsidiaries, owns 50% of the Normanby and Sehuela properties on Normanby Island in Papua New Guinea, and has the option to acquire the remaining 50%. Silver Ridge is engaged in mineral exploration. In connection with the Business Combination, it is proposed that Silver Ridge will acquire all of the issued and outstanding common shares of NMC in exchange for common shares of Silver Ridge on a 1:1 basis by way of a three-cornered amalgamation whereby a wholly-owned subsidiary of Silver Ridge will amalgamate with NMC, with the amalgamated company becoming a wholly-owned subsidiary of Silver Ridge. Upon closing of the Business Combination, Silver Ridge intends to change its name to PNG Gold Corporation. The change of name will be subject to the acceptance of the TSX-V and the approval of the British Columbia Registrar of Companies.

Since execution of the Master Agreement, Silver Ridge and NMC have been moving the proposed Business Combination forward. On December 17, 2010, Silver Ridge filed a revised technical report dated November 30, 2010 relating to NMC's Normanby Property in Papua New Guinea on SEDAR. On January 14, 2011, Silver Ridge engaged Canaccord Genuity Corp. to act as its sponsor with respect to the Business Combination under the rules and policies of the TSX Venture Exchange (the "TSX-V"). On February 18, 2011 a meeting of shareholders of NMC was held at which a special resolution approving the Master Agreement and the proposed Business Combination was approved. On March 15, 2011, NMC completed the third and final tranche of its private placement of 6,029,000 common shares at $.50 per share. Aggregate gross proceeds of $3,014,500 were raised from all tranches. Silver Ridge intends to seek the written approval of a majority of its shareholders for the proposed Business Combination, and on March 24, 2011 filed a Filing Statement with respect to the Business Combination with the TSX-V.

NMC's Normanby Property is located about 325km east of Port Moresby and 65 km northeast of Alotau in Milne Bay Province, Papua New Guinea. The Normanby Property is located in the central part of Normanby Island, the southern and eastern most of a three island chain called the D'Entrecasteaux Islands. The Normanby Property is situated along the Rim of Fire, the active circum-Pacific volcanic belt that hosts a number of world-class gold prospects. The Normanby Property contains several named mineral occurrences and/or anomalous zones, the major one being the Imwauna vein system. The occurrences contain mainly high level, epithermal gold mineralization associated with Pleistocene to Recent volcanic activity.

Since August 26, 2010, NMC has spent approximately $1,230,000 on exploration of the Normanby Property. Staff has been hired, and a camp constructed and provisioned on Normanby Island. Mobile equipment has been purchased and mobilized. NMC has conducted mechanical trenching and sampling, and has initiated diamond drilling, on the Normanby Property.

Silver Ridge and NMC have agreed on the members of the management team of the combined company. The President and Chief Executive Officer will be Mr. J.R.H. ("Dick") Whittington. Mr. Whittington is a mining engineer, educated at England's Royal School of Mines, with over 35 years of experience in Canada, Australia, Panama and Mexico. Most recently he was President and CEO of Farallon Mining Ltd. and helped facilitate the friendly takeover of the company by Nyrstar N.V., a Belgium zinc mining and smelting company, for $409 million in January 2011. He successfully led Farallon through the transition from exploration, to development and construction and finally, into commercial production. The Governor General of Canada, Ms. Michaelle Jean, has awarded Mr. Whittington a Governor General's Gold Medal as a result of his work to strengthen ties between Canada and Mexico, and for his commitment to Corporate Social Responsibility in mining. Mr. Whittington will also serve on the board of directors.

The Chief Operating Officer will be Mr. Colin McKenzie. Mr. McKenzie has over 25 years experience in major exploration projects and business development internationally. He currently serves as a director of Cornerstone Capital Resources Inc., prior to which he served as President and Chief Executive Officer of that same company and as Vice President, Exploration for Skye Resources Inc., a TSX-listed resource company with a nickel project in Guatemala acquired by HudBay Minerals Inc. in 2008 in a friendly transaction valued at approximately $460 million. He also previously served as Director, Exploration for Inco Ltd., where he was in charge of exploration in Latin America as well as responsible for generating new business opportunities from Inco's portfolio of non-core exploration properties. From 1996 to 2000 he was Vice President, Exploration for Voisey's Bay Nickel Company, responsible for managing exploration and resource evaluation of the Voisey's Bay deposits. Prior to that he held increasingly senior exploration positions with Rio Algom Limited and at BP Mining Canada Ltd., where he was credited with the discovery of the Hope Brook gold deposit.

The board of directors will be comprised of Mr. Whittington, Mr. Greg Clarkes, Mr. Paul DiPasquale and Mr. Larry Van Hatten. Mr. Clarkes is presently CEO, Chairman and a director of Skana Capital Corp., a publicly traded merchant banking company listed on the TSX-V. He was previously a director and the founder of Skye Resources Inc., a TSX-listed resource company with a nickel project in Guatemala which was acquired by HudBay Minerals Inc. in 2008 in a friendly transaction valued at approximately $460 million. Mr. Di Pasquale has been involved in the securities industry since 1969 and has held various executive positions with responsibility for sales and trading operations for a number of brokerage firms in his career, including; Brink, Hudson & LeFever Ltd., Yorkton Securities Inc., Haywood Securities Inc., Gardiner Watson Ltd. and Walwyn Stodgell. Latterly he was an Executive Vice President and Branch Manager at Canaccord Genuity Corp. Mr. Van Hatten was a partner of Ernst & Young LLP, leading its Vancouver assurance practice until announcing his retirement in June 2010. Prior to May 2005, Mr. Van Hatten was the managing partner of Ellis Foster, Chartered Accountants, a Vancouver-based firm that merged into Ernst & Young LLP in May 2005.

Scientific and technical information concerning NMC's mineral projects contained in this press release has been prepared by or under the supervision of Mr. Colin McKenzie. Mr. McKenzie is a "Qualified Person" within the meaning of NI 43-101. He serves NMC as a consultant, and it is intended he will be Chief Operating Officer of the combined company.

Resumption of trading does not constitute TSX-V acceptance of the Business Combination, and should not be construed as an assurance of the merits of the transaction or the likelihood of completion. Silver Ridge is required to submit all of the required initial documentation relating to the Business Combination within 75 days. IF DOCUMENTATION IS NOT PROVIDED, OR IS INSUFFICIENT, A TRADING HALT MAY BE RE-IMPOSED.

Completion of the Business Combination is subject to a number of conditions, including the approval of the TSX-V, the execution of definitive documentation, the completion of satisfactory due diligence, and the requisite majority approval of shareholders of Silver Ridge. Silver Ridge proposes to obtain the written consent of the majority of its shareholders to the Business Combination in accordance with the rules of the TSX-V. The Business Combination cannot close until the approval of the shareholders of Silver Ridge and all required regulatory approvals are obtained. There can be no assurance that the Business Combination will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Filing Statement to be prepared in connection with the Business Combination, any information released or received with respect to the proposed Business Combination may not be accurate or complete and should not be relied upon. Trading in the securities of Silver Ridge should be considered highly speculative.

Canaccord Genuity Corp., subject to completion of satisfactory due diligence, has agreed to act as sponsor to Silver Ridge in connection with the Business Combination. An agreement to sponsor should not be construed as any assurance with respect to the merits of the Business Combination or the likelihood of completion.

The TSX-V has in no way passed upon the merits of the proposed Business Combination and has neither approved nor disapproved the contents of this press release.

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Todays trading was phenomenal up 0.745 (480.65%) on the TSX with just 219,499 shares traded!!!
And up ? 0.7937 (536.28%) on the pink sheets with just 11,000 shares traded.