Silver Range Resources Ltd. announces private placement
17 February 2021
Silver Range Resources Ltd. announces a non-brokered private placement of up to 2,330,000 units at a price of $0.25 per unit, for total proceeds of up to $582,500. Each unit will consist of one common share and one non-transferable share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of $0.33 for a period of three years from closing, provided that in the event the closing price of Silver Range’s shares is $0.40 or greater for a period of ten consecutive trading days subsequent to the expiry of the statutory hold period, Silver Range will have the right to provide all warrant holders with notice that the expiry date for the warrants has been shortened to thirty calendar days from the giving of such notice..
This private placement is subject to regulatory acceptance and is expected to close by February 26, 2021. The proceeds will be used to finance further exploration in Nevada and for working capital purposes.