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TSXV:NRG ) (OTC :NRGOF ) ( Frankfurt:X6C) Newrange Gold Corp. (" Newrange " or the " Company ") announces that, further to its news release dated February 24, 2022, the Company has extended its non-brokered flow-through and non-flow-through private placement for aggregate gross proceeds of $2 million (the "Offering") until April 13, 2022
The flow-through private placement consists of up to 15,000,000 units of the Company (the "FT Units") at a price of $0.10 per FT Unit for gross proceeds of up to $1,500,000. Each FT Unit consists of one common share of the Company and one-half share purchase warrant (each whole share purchase warrant, a "FT Warrant"). Each FT Warrant entitles the holder thereof to purchase one common share at an exercise price of $0.12 at any time during a 24-month period after the Closing Date . Proceeds will be used to advance the Company's Argosy Gold Mine and North Birch Projects in the Red Lake Mining Division of Ontario.
Each non-flow-through ("NFT") Unit consists of one common share of the Company and one-half share purchase warrant (each whole share purchase warrant, a "NFT Warrant") at a price of $0.07. Each NFT Warrant entitles the holder thereof to purchase one common share at an exercise price of $0.12 at any time during a 24-month period after the Closing Date . The Company has announced the closing of a first tranche of the NFT portion of the financing in the amount of $408,100. Proceeds will be used for general working capital and for continued surface exploration on the Pamlico project in Nevada.
Finders' fees may be payable on the private placement. This offering is subject to TSX Venture Exchange acceptance.
About Newrange Gold Corp.
Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including Nevada and Ontario. The Company's Pamlico Project in Nevada contains a large-scale multi-phase polymetallic mineralizing system with multiple gold and copper targets spread over more than 5,700 hectares. In the prolific Red Lake District of northwestern Ontario, the past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. 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 Archer"
CEO & Director
FOR FURTHER INFORMATION CONTACT :
| Sharon Fleming | Dave Cross |
| Corporate Communications | Chief Financial Officer and Corporate Secretary |
| Phone: 760-898-9129 | Phone: 604-669-0868 |
| Email: info@newrangegold.com | Email: dcross@crossdavis.com |
Website: www.newrangegold.com
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.
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