Silver Range Resources Ltd. announces shares for services agreement
1 April 2019
Silver Range Resources Ltd. announces that it has entered into a “shares for services agreement” with Paladin Geoscience Corp. (“Paladin”), a private company controlled by Michael A. Power, Silver Range’s President and Chief Executive Officer, pursuant to the provisions of TSX Venture Exchange (the “Exchange”) Policy 4.3. Pursuant to the agreement, Paladin, which provides geological and other consulting services to Silver Range, will receive 50% of its monthly consulting fee in cash, with the remaining 50% to be satisfied by the issuance of Silver Range common shares, which shares will be issued at a deemed price per share equal to the market price of Silver Range’s shares as traded on the Exchange calculated at the end of each month in which consulting services are provided minus 50% of the discount permitted under applicable Exchange policies. The shares will be issued semi-annually and will be subject to a four month and one day hold period commencing upon the date of issuance. This agreement is subject to Exchange acceptance.