- Newrange Gold Corp. (NRG) has announced the closing of the first tranche of a non-brokered private placement for gross proceeds of $408,100
- The company has also announced a parallel non-brokered flow-through private placement for gross proceeds of up to $1,500,000
- The FT financing and the final tranche of the NFT financing are expected to close in approximately two weeks
- Newrange is focused on district-scale exploration for precious metals in Nevada and Ontario
- Shares of Newrange Gold Corp. (NRG) opened trading at C$0.075
Newrange Gold Corp. (NRG) has announced the closing of the first tranche of a non-brokered private placement for gross proceeds of $408,100.
The company issued 5,830,332 non-flow-through units priced at $0.07 per unit. Each NFT unit consists of one common share and one-half share purchase warrant. Each NFT warrant entitles the holder to purchase one common share at an exercise price of $0.12 at any time until February 23, 2024.
Proceeds will be used for general working capital and for continued surface exploration on the Pamlico project in Nevada.
The company has also announced a parallel non-brokered flow-through private placement for gross proceeds of up to $1,500,000.
The company will issue 15,000,000 units at a price of $0.10 per FT unit. Each FT unit consists of one common share and one-half share purchase warrant. Each whole FT warrant entitles the holder to purchase one common share at an exercise price of $0.12 at any time until February 23, 2024.
Proceeds will be used to advance the Company’s Argosy Gold Mine Project in the Red Lake Mining Division of Ontario.
The FT financing and the final tranche of the NFT financing (approximately $100,000) are expected to close in approximately two weeks.
Cash finder’s fees or commissions in the amount of $13,720 were paid on the first tranche of the NFT financing and the company issued 63,000 share purchase finders warrants.
All securities issued are subject to a four-month statutory hold period.
Newrange is focused on district-scale exploration for precious metals in Nevada and Ontario.
Shares of Newrange Gold Corp. (NRG) opened trading at C$0.075.