- Newrange Gold ( OTCPK:NRGOF ) on Monday said it has arranged a non-brokered private placement to raise up to C$10.1M.
- The placement is anticipated to close on or about Nov 25, 2022 following a ‘one new for six old’ share consolidation (to be voted upon by shareholders at the AGSM on Nov 23, 2022) and, as such, will be priced at the post consolidation share price of C$0.18.
- The placement will consist of up to 56M units with each unit comprising one common share and one-half share purchase warrant, whereby each whole warrant shall be convertible into an additional share at an exercise price of C$0.27 for a period of 36 months from the date of issuance.
- Net proceeds from the offering will be used for the acquisition of a 100% interest in the Coricancha Gold-Silver-Copper-Lead-Zinc mine in Central Peru, continued care and maintenance costs, exploration and development of the mine and general working capital.
For further details see:
Newrange Gold announces private placement for C$10.1M