Newrange Gold Closes Second Tranche of Private Placement
VANCOUVER, BC--(Marketwired - March 23, 2018) - Newrange Gold Corp. (TSX VENTURE: NRG) (OTCQB: NRGOF) (FRANKFURT: X6C) ("Newrange" or the "Company") is pleased to announce the closing of the second and final tranche of a private placement by issuing 518,000 units (the "Units") at a price of CAD $0.28 per Unit (the "Private Placement"), for gross proceeds of CAD $145,040, subject to TSX Venture Exchange ("TSXV") approval.
Each Unit consists of one common share and one-half share purchase warrant (the "Warrants"). Each whole Warrant entitles the holder to purchase one additional common share for a two (2) 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.
Signed: "Robert G. Carrington"
President & CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statement: Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.
Contact
FOR FURTHER INFORMATION CONTACT:
Fidel Thomas
Corporate Communications
Phone: 604-669-0868 or 778-228-5735
Email: info@newrangegold.com
Website: www.newrangegold.com