Silver Range Resources Ltd. Closes First Tranche of Private Placement and Provides Operational and Investor Relations Update
Suite 1016 – 510 West Hastings Street
Vancouver, B.C. V6B 1L8
Tel: 604-687-2522
www.silverrangeresources.com
TSX-V: SNG
SILVER RANGE RESOURCES LTD. CLOSES FIRST TRANCHE OF PRIVATE
PLACEMENT AND PROVIDES OPERATIONAL AND INVESTOR RELATIONS
UPDATE
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
April 6 , 2020 – Vancouver, B.C. – Silver Range Resources Ltd. (TSX-V:SNG) (“S ilver
Range” or the “Company”) announces the closing of first tranche of the private placement
announced February 11, 2020. The first tranche consisted of the issuance of 1,30 0,000 units at a
price of $0.08 each for total proceeds of $104,000. Each unit consists 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 $0.16 for a period of two years from closing . All
common shares issued will be subject to a statutory hold period expiring August 7, 2020. In the
event the closing price of Silver Range shares is $0.20 or greater for a period of ten consecutive
trading days subseq uent to the expiry of the applicable four month hold period after closing,
Silver Range will have the right to provide all warrant holders with notice of an earlier expiry
date for the warrants – in such event, the warrants would expire thirty calendar day s from the
giving of such notice. No finder ’s fees were paid and insiders purchased 537, 500 units for
proceeds of $43,000.
The proceeds from this private placement will be used for working capital and exploration work
in Nevada, Nunavut and the Northwest Territories.
In response to the COVID -19 outbreak, Silver Range has suspended work in Nevada and is
rescheduling planned work in Nunavut, pending lifting of public health orders in the NWT and
Nunavut. The Company has redirected resources to project generation and target identification
in anticipation of favourable business and market conditions in the days ahead.
Silver Range also announces that it has engaged Proactive Investors to provide written and video
interview coverage of news releases and other corporate developments. Proactive Investors is a
financial news and events organization with bureaus in North America, the United Kingdom and
Australia. Across all business lines, its worldwide client base numbers approximately 800
companies. Under the agreement, Proactive Investors will provide coverage to Silver Range for
a period of 14 months, at a total cost of $25,000.
Silver Range is a precious metals prospect generator working in Nunavut , Nevada and the
Northwest Territories. It has assembled a portfolio of 45 properties, 8 of which are currently
under option to others . Silver Range is actively seeking other joint venture partners to explore
the high grade precious metal targets in its portfolio.
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The securities referred to i n 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. registrati on 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 St ates 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.
“Mike Power”
President, C.E.O. & Director
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 (a s 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 fu ture 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.