20 April 2020
Silver Range Resources Ltd. announces that, in the interest of preserving its working capital in these uncertain times, it has amended its "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 amending agreement, Paladin, which provides geological and other consulting services to Silver Range, will now receive a minimum of 50% and, at Paladin's sole discretion, up to a maximum of 100% of its monthly consulting fee by the issuance of Silver Range common shares.
All shares will be issued at a deemed price per share equal to the market price of Silver Range's shares as traded on the TSX Venture Exchange (the "Exchange") calculated at the end of each month in which such 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. Any consulting fees not paid for by the issuance of Silver Range shares will be paid in cash. The amending agreement is subject to Exchange acceptance.
Mr. Power recently sat down with Proactive Vancouver to discuss the Company's high grade focus while highlighting two drill ready targets in Nevada, Skylight and Coldsprings. The interview is available here and on the Company's Youtube channel along with a growing number of project specific presentations.