Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF Newrange Closes Shares for Debt Transaction
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Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF
Newrange Closes Shares for Debt Transaction
VANCOUVER, BRITISH COLUMBIA, February 23, 2024 (TSXV: NRG, US: NRGOF, Frankfurt: X6C)
– Newrange Gold Corp. ("Newrange" or the “ Company") announces that, further to the Company’s
news release of January 29, it has received TSXV acceptance of the agreements with certain creditors
to accept shares in the Company in settlement of their debt . The aggregate number of shares to be
issued is 5,767,252 at a price of $ 0.035 per share, for settlement of $201,853.81. All securities issued
will be subject to a four-month hold period which will expire on the date that is four months and one day
from the effective date of the transaction, that being February 23, 2024.
The issuance of 3,714,286 common shares to directors and officers of the Company constitutes a
"related party transaction" as this term is defined in Multilateral Instrument 61 -101: Protection of
Minority Securityholders in Special Transactions (" MI 61 -101"). The directors and officers of the
Company, acting in good faith, determined that the fair market value of the common shares being
issued pursuant to the shares for debt transaction and the consideration being paid is reasonable. The
Company intends to rely on the exemptions from the valuation and minority shareholder approval
requirements of MI 61 -101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61 -101 as neither the fair
market value of the common shares nor the debt exceeds 25% of the Company's market capitalization.
About Newrange Gold Corp.
Newrange is currently focused on district-scale exploration for precious metals in the prolific Red Lake
District of northwestern Ontario . The past-producing high-grade Argosy Gold Mine is open to depth,
while the adjacent North Birch Project offers additional blue -sky potential. Further information can be
found on our website at www.newrangegold.com.
Signed: “Robert Archer”
President & CEO
FOR FURTHER INFORMATION CONTACT:
Email: [email protected]
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.