VANCOUVER, BC--(Marketwired - February 14, 2017) -
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
Silver Range Resources Ltd. (TSX VENTURE: SNG) ("Silver Range") announces a $750,000 private placement, to consist of the sale of 4,687,500 units at a price of $0.16 per unit, with each unit to consist of one common share and one non-transferable share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of $0.25 for a period of two years from closing.
The proceeds from this private placement, which is subject to regulatory acceptance, will be used for working capital purposes. Closing is expected to occur on or about February 28, 2017.
Silver Range is building and exploring a portfolio of high grade gold targets in Nunavut, the Northwest Territories and Nevada to fulfill an increasing demand for gold projects in politically stable jurisdictions. The company is actively seeking joint venture partners to explore the assets 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.
President, C.E.O. & Director
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.