Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF Newrange Revises Shares for Debt Issuance and Closes Transaction
250 - 750 West Pender Street, Vancouver, BC V6C 2T7 - Tel. (604) 669 - 0868
Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF
Newrange Revises Shares for Debt Issuance and Closes Transaction
VANCOUVER, BRITISH COLUMBIA, February 27, 2023 (TSXV: NRG, US: NRGOF, Frankfurt: X6C)
– Newrange Gold Corp. ("Newrange" or the “ Company") announces that, further to the Company’s
news release of January 11, 2023, the aggregate number of shares to be issued under shares for debt
agreements with certain creditors, will total 20,186,585 at a price of $0.015 per share, for settlement of
$302,798.76. All securities issued will be subject to a four month hold peri od which will expire on the
date that is four months and one day from the date of issue. The Company has received TSX Venture
Exchange approval and the effective date of the transaction is February 27, 2023.
The issuance of 6,166,667 common shares t o directors and officers of the Company constitutes a
"related party transaction" as this term is defined in Multilateral Inst rument 61 -101: Protection of
Minority Securityholders in Special Transactions ( "MI 6 1-101"). The directors and o fficers o f 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 intend s 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 neithe r 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 Go ld 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.