VANCOUVER, BRITISH COLUMBIA / TheNewswire / October 19, 2018 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) - Newrange Gold Corp. ("Newrange" or the "Company") is pleased to announce it has closed a $900,600.00 non-brokered private placement through the issuance of 11,257,500 units at a price of $0.08 per unit (the "Units"). Each Unit consists of one share and one share purchase warrant that can be exercised for one additional share at a price of $0.12 per share for a two (2) year period (the "Warrants"). Under certain terms the Warrants may be accelerated if the closing price of the Company's common shares on the TSX Venture Exchange exceeds $0.20 for any 20 consecutive days.
Proceeds will be used to advance the Company's high-grade Pamlico Gold project in Nevada and for general and working capital. There will be no finders fees paid in respect to this financing. All securities issued will be subject to a four-month hold period and subject to TSX Venture approval.
Newrange is an exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, and Colombia. With numerous drill intercepts of high-grade, near surface, oxide gold mineralization, the Company's Pamlico Project is poised to become a significant new Nevada discovery. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com.
Mr. Robert G. Carrington, P. Geo, a Qualified Person as defined by National Instrument 43-101, the President and CEO of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release.
Signed: "Robert G. Carrington"
President & CEO
For further information contact:
Sharon Hebgin Dave Cross
Corporate Communications Chief Financial Officer and Corporate Secretary
Phone: 760-898-9129 Phone: 604-669-0868
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.newrangegold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.
