Silver Range Resources Ltd. Closes Final Tranche of Private Placement
Suite 510 – 1100 Melville Street
Vancouver, B.C. V6E 4A6
Tel: 604-687-2522
www.silverrangeresources.com
TSX-V: SNG
SILVER RANGE RESOURCES LTD. CLOSES FINAL TRANCHE OF PRIVATE
PLACEMENT
January 17, 2024 – Vancouver, B.C. – Silver Range Resources Ltd. [TSX-V:SNG] (“Silver
Range”) announces the closing of the final tranche of the non-brokered private placement
originally announced on August 30, 2023. The final tranche consisted of the issuance of 500,000
units at a price of $0. 10 per unit, for total proceeds of $50,000, with each unit consisting of one
common share and one non-transferable share purchase warrant. Each warrant entitles the holder
to purchase one additional common share at a price of $0. 15 until January 12, 2026 , provided
that, in the event the closing price of Silver Range’s shares as traded on the TSX Vent ure
Exchange (the “Exchange”) is equal to or greater than $0.20 for a period of 10 consecutive
trading days subsequent to the expiry of the statutory hold period, Silver Range will have the
right to provide all warrantholders with notice that the expiry da te for the warrants has been
shortened to 30 calendar days from the giving of such notice.
All of the securities issued pursuant to the final tranche, including any common shares that may
be issued pursuant to the exercise of the warrants, are subject to a hold period in Canada until
May 13, 2024.
The proceeds from this private placement will be used to finance further exploration in the
southwestern United States and for working capital purposes.
An insider of Silver Range subscribed for 100,000 units pursuant to the final tranche. This
participation constituted a related party transaction within the meaning of Exchange Policy 5.9
and Multilateral Instrument 61 -101 – Protection of Minority Security Holders in Special
Transactions (“MI 61 -101”). Silver Range has relied on the exemptions from the formal
valuation and minority shareholder approval requirements of MI 61-101 contained in sections
5.5(a) and 5.7(1)(a) in respect of the related party participation in the private placement, as
neither the fair market value (as determined under MI 61 -101) of the subject matter of, nor the
fair market value of the consideration for, the transaction, insofar as it involved interested
parties, exceeded 25% of Silver Range’s market capitalization (as determined under MI 61-101).
About Silver Range Resources Ltd.
Silver Range is a precious metals prospect generator working in Nevada, Arizona and northern
Canada. It has assembled a portfolio of 4 4 properties, 14 of which are currently optioned to
others. Four other projects have been converted to royalty interests. Silver Range is actively
seeking other joint venture partners to explore the high -grade precious metal targets in its
portfolio.
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ON BEHALF OF SILVER RANGE RESOURCES LTD.
“Mike Power”
President and CEO
For further information concerning Silver Range or its exploration projects please contact:
Investor Inquiries
Richard Drechsler
Vice-President, Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
http://www.silverrangeresources.com
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.