New Range Resources Ltd.

New Range Resources Ltd.

April 11, 2006 20:22 ET

New Range Announces Receipt of Final Approval of Qualifying Transaction

CALGARY, ALBERTA--(CCNMatthews - April 11, 2006) - New Range Resources Ltd. ("New Range" or the "Corporation") (TSX VENTURE:RGE), formerly Open Range Capital Corp. ("Open Range"), is pleased to announce the receipt of final acceptance from the TSX Venture Exchange (the "Exchange") for the previously announced business combination of Open Range, SIGA Resources Limited and Open Range Resources Ltd. by statutory arrangement, resulting in the formation of New Range Resources Ltd. The business combination was accepted by the Exchange as the qualifying transaction of Open Range in accordance with the Exchange's policies.

Effective the opening of trading on April 12, 2006, New Range will no longer be considered a capital pool company and its Common Shares will commence trading on the Exchange under the new trading symbol "RGE". New Range is classified on the Exchange as a Tier 1 oil and gas exploration company.

New Range also provides notice, in accordance with the requirements of the Exchange, that an aggregate of 1,250,000 stock options of the Corporation have been granted to officers, directors, employees and consultants of New Range. The stock options will be exercisable into Common Shares of the Corporation at a price of $0.25 per share until April 11, 2011.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • New Range Resources Ltd.
    Hugh M. Thomson
    President and Chief Executive Officer
    (403) 303-2502
    (403) 303-2503 (FAX)