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VANCOUVER, BRITISH COLUMBIA TheNewswire - April 28, 2021 (TSXV:NRG ) US (OTC :NRGOF ) ( Frankfurt:X6C) Newrange Gold Corp. (" Newrange " or the " Company ") is pleased to announce the closing of the second and final tranche of a non-brokered private placement for $1,351,991.64 consisting of 11,266,597 units (the "Units"). Each Unit consists of one common share of the Company and one-half share purchase warrant (each whole share purchase warrant, a "Warrant"). Â Each Warrant entitles the holder thereof to purchase one common share at an exercise price of $0.25 at any time until April 28, 2023. Â Proceeds will be used to advance the Company's flagship Pamlico Project in Nevada and for general working capital. Â Total gross proceeds from the non flow-through and flow-through financings were $3,057,391.48.
Cash finder's fees or commissions in the amount of $69,605.97 were paid on the second tranche of the financing and the Company issued 568,050 share purchase finders warrants (the "Finders Warrants"). Â Each Finders Warrant entitles the holder thereof to purchase one common share at an exercise price of $0.25 for a two-year period.
All securities issued are subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval.  The securities offered have not been registered under the United States Securities Act of 1933 , as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Insiders subscribed for an aggregate of 1,075,000 Units for a total of $129,000. Â As insiders of Newrange participated in the financing, it is deemed to be a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61- 101 "). Newrange is relying on the exemptions from the formal valuation and minority approval requirements contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market value of the transaction does not exceed 25% of Newrange's market capitalization. The Company will be filing a material change report in respect of the related party transaction on SEDAR.
About Newrange Gold Corp.
Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including Nevada, Ontario and Colorado. With locally high-grade, near surface oxide gold mineralization, the Company's flagship Pamlico Project is poised to become a significant new Nevada discovery. 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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