TORONTO, ONTARIO--(Marketwired - Oct. 29, 2015) - Harrington Global Limited ("Harrington") announced that it, on behalf of Harrington Global Opportunities Fund S.à.r.l. (the "Fund"), which it manages and advises, has today acquired an aggregate of 16,403,750 units ("Units") of Range Energy Resources Inc. ("Range") at a price of $0.04 per Unit on a private placement basis (the "Acquisition"). Each Unit consists of one common share ("Share") and one common share purchase warrant ("Warrant") of Range. Each Warrant will entitle the holder thereof to purchase one Share at a price of $0.05 at any time before October 29, 2020.
Prior to the Acquisition, the Fund owned 76,433,000 Shares. As a result of the Acquisition, the Fund beneficially owns, and Harrington exercises control and direction over, an aggregate of 92,836,750 Shares and 16,403,750 Warrants, representing approximately 16.38% of the issued and outstanding Shares of 650,468,816 as confirmed by Range, calculated on a partially diluted basis.
The securities of Range were acquired in the ordinary course of business, for investment purposes only. Depending on market conditions and other factors, Harrington, on behalf of the Fund, may from time to time acquire additional securities of Range, or continue to hold or dispose of some or all of the securities of Range in the open market, by private agreement or otherwise.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.
For additional information, or for a copy of the early warning report filed in respect of the above transaction, please contact Daniel Guy at 1-441-704-6900.
Contact Information:
1-441-704-6900