Silver Range Resources Ltd. Announces Private Placement

30.08.2023 | 8:30 Uhr | Accesswire


VANCOUVER, August 30, 2023 - Silver Range Resources Ltd. (TSXV:SNG) ("Silver Range") announces a non-brokered private placement of up to 6,000,000 units at a price of $0.10 per unit, for total proceeds of up to $600,000. Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.15 for a period of two years from the closing of the placement. In the event the closing market price of Silver Range's shares is equal to or greater than $0.20 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 warrantholders with notice that the expiry date for the warrants has been shortened to 30 calendar days from the giving of such notice.

The proceeds from this private placement will be used to finance further exploration in the southwestern United States and for working capital purposes. The placement is expected to close in one or more tranches by September 29, 2023, and is subject to regulatory acceptance.

About Silver Range Resources Ltd.

Silver Range is a precious metals prospect generator working in the southwestern United States and northern Canada. It has assembled a portfolio of 42 properties, 14 of which are currently optioned to other companies. Four other projects have been converted to royalty interests. Silver Range is actively seeking parties interested in exploring the high-grade precious metal targets in its portfolio.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

ON BEHALF OF Silver Range Resources Ltd.

"Mike Power"
President and CEO

For further information concerning Silver Range or its exploration projects please contact:

Investor Inquiries

Richard Drechsler
Vice-President, Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Silver Range Resources Ltd.

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