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Newrange Gold Closes Second Tranche of Private Placement

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Newrange Gold Closes Second Tranche of Private Placement

 

 

 

 

 

Newrange Gold Corp. (TSX-V: NRG) (OTCQB: NRGOF) (FRANKFURT: X6C) is pleased to announce the closing of the second and final tranche of a private placement by issuing 518,000 units at a price of CAD $0.28 per Unit for gross proceeds of CAD $145,040, subject to TSX Venture Exchange approval.

 

 

Each Unit consists of one common share and one-half share purchase warrant. Each whole Warrant entitles the holder to purchase one additional common share for a two  year period at a price of $0.45 per share. The Warrants may be accelerated under certain terms if the closing price of the Company’s common shares on the TSXV exceeds $0.75 for any 20 consecutive trading days.

 

 

The proceeds of the Private Placement will be used to advance the Company’s high-grade Pamlico gold project in Nevada where drilling is underway. A finder’s fee or commission equal to 7% cash and 7% brokers warrants will be payable upon $21,000 in respect of tranche one to this financing.

 

 

About Newrange Gold Corp.

 

 

Newrange is an aggressive exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions, including Nevada and Colombia. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com.

 

Posted March 24, 2018

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