Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF Newrange Gold Closes Non-Brokered Financing
250 - 750 West Pender Street, Vancouver, BC V6C 2T7 - Tel. (604) 669 - 0868 Fax (604) 558 - 4200
Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF
Newrange Gold Closes Non-Brokered Financing
VANCOUVER, BRITISH COLUMBIA, August 22, 2022 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) –
Newrange Gold Corp. ("Newrange" or the “ Company") announces the closing of the non-brokered
private placement announced on August 2, 2022 for gross proceeds of $300 ,000, consisting of
10,000,000 units (the “Units”) at a price of $0.03 per Unit.
Each Unit consists of one common share of the Company and one share pur chase war rant (a
“Warrant”). Each Warrant entitles the hol der thereof to purchase one common share at an exercise
price of $0.05 at any time until August 22, 2024. No part of the proceeds wi ll be used for payments to
Non-Arm’s Length Parties nor to Persons conducting Investor Relations activities. Approximately 20%
will be used towards field logistics at the North Birch and Argosy Projects in Ontario, with the remainder
going to general working capital including due diligence on a potential acquisition.
Cash finder’s fee s or commissions in the amount of $ 3,748.50 were paid on the financing and the
Company issued 89 ,950 share pur chase finders warrants (the “Finders Warrants”). Each Finders
Warrant entitles the holder thereof to purchase one common share at an exercise price of $0.05 for a
two-year period.
All securities issued are subject to a four -month hold period from the date of issuance and subject to
TSX Venture Exchange approval . The securities issued have not been registered under the United
States Securities Act of 1933, as amended, and m ay not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements.
Insiders subscribed for an aggregate of 1,115,000 Units for a total of $33,450. As insiders of Newrange
participated in the financing, it is deemed to be a “related party transaction” within the meaning of
Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-
101”). Newrange is relying on the exemptions from the for mal valuation and minority approval
requirements contained in Sections 5.5(a) and 5. 7(1)(a) of MI 61-101, on the basis that the fair market
value of the transaction does not ex ceed 25% of Newrange’s market capitalization. The Company will
be filing a material change report in respect of the related party transaction on SEDAR.
About Newrange Gold Corp.
Newrange is 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, whi le the
250 - 750 West Pender Street, Vancouver, BC V6C 2T7 - Tel. (604) 669 - 0868 Fax (604) 558 - 4200
Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF
adjacent North Birch Pro ject offers additional blue-sky potential. Focused on developing shareholder
value through exploration and development of key projects, the Co mpany is committed to building
sustainable value for all s takeholders. Further informati on can be found on our w ebsite at
www.newrangegold.com.
Signed: “Robert Archer”
President & CEO
FOR FURTHER INFORMATION CONTACT:
Phone: 760-898-9129
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.
Forward-Looking Statement:
Some of the s tatements in this news release contain forward- looking information t hat involves inherent risk and uncertainty affecting the
business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.