Goldrange Resources Closes Non-Brokered C$3.2 Million Private Placement
March 22, 2021
TORONTO, ONTARIO, March 22, 2021 – Goldrange Resources Corp. (“Goldrange” or the “Company”), is pleased to announce that it has closed a non-brokered private placement financing (the “Financing”). The participants in the Financing were all accredited investors, or otherwise exempt purchasers, under National Instrument 45-106. As the Company is a private company, all securities acquired are subject to an indefinite hold period.
Goldrange is a private resource company focused on acquiring accretive near-term revenue producing assets and expanding a portfolio of targeted exploration stage assets.
In connection with the Financing, Goldrange issued 18,667,817 common shares at a price of C$0.17 per common share for gross cash proceeds of C$3,173,541. The Company will utilize these funds for property acquisitions, progression of a drilling program on a property the Company has signed a letter of intent with and for general working capital.
“We are very pleased to have completed this financing and gain the strong support of our investors at this early stage.” said Joseph Arengi, CEO, “This financing will provide the Company a strong cash position to push forward with its plans to acquire projects that focus on gold and other metals used for electronic vehicles. Goldrange’s ultimate goal remains to transform the way a resource company operates by targeting near-term revenue producing assets that generate cashflow to expand on the Company’s long-term exploration goals thus minimizing shareholder dilution.”
About Goldrange Resources Corp.
Goldrange is an acquisition driven resource company focused on acquiring accretive near-term revenue producing assets, with the intention to support capital required for the Company’s exploration stage projects thus minimizing and/or eliminating shareholder dilution.
On Behalf of Goldrange Resources Corp.,
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Forward-looking statements include statements regarding the Company’s plans to acquire gold and other metal resource properties and that such properties will generate cash flows. Investors are also cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.