- Newrange Gold Corp. (NRG) has announced a non-brokered private placement to raise gross proceeds of up to $10,080,000
- President & CEO Robert (Bob) Archer sat down with Sabrina Cuthbert to discuss the capital raise
- The placement will consist of up to 56,000,000 units priced at C$0.18 per unit
- The net proceeds raised will be used primarily for the acquisition of a 100 per cent interest in the Coricancha Gold-Silver-Copper-Lead-Zinc Mine in Central Peru
- Newrange is currently focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario
- Shares of Newrange Gold Corp. (NRG) opened trading at C$0.03
Newrange Gold Corp. (NRG) has announced a non-brokered private placement to raise gross proceeds of up to $10,080,000.
President & CEO Robert (Bob) Archer sat down with Sabrina Cuthbert to discuss the capital raise.
The placement will consist of up to 56,000,000 units priced at C$0.18 per unit. Each unit consists of one common share and one-half share purchase warrant. Each whole warrant can be exercised for an additional share at $0.27 for a period of 36 months.
The warrants are subject to an acceleration clause.
A finder’s fee of up to 7 per cent in cash and 7 per cent in warrants may also be paid.
The net proceeds raised will be used for the acquisition of a 100 per cent interest in the Coricancha Gold-Silver-Copper-Lead-Zinc Mine in Central Peru and general working capital.
All securities to be issued will be subject to a statutory four-month hold period.
Newrange is currently focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario.
Shares of Newrange Gold Corp. (NRG) opened trading at C$0.03.