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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. Â 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"). Â 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 . Â 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. Â 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 . Â The Company has announced the closing of a first tranche of the NFT portion of the financing in the amount of $408,100. Â 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. Â 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. Â 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. Â 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. Â Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Â 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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