TSX-V: SNG
/NOT FOR DISSEMINATION OR DISTRIBUTION IN
THE UNITED STATES AND NOT FOR
DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES/
VANCOUVER, March 14, 2018 /CNW/ - Silver Range Resources
Ltd. (TSX-V:SNG) ("Silver Range") announces that it will carry
out a 6,000,000 unit private placement. Each unit will be sold
at a price of $0.15 for total
proceeds of $900,000. Each unit will
consist of one common share and one non-transferable share purchase
warrant. Each warrant will entitle the holder to purchase one
additional common share at a price of $0.25 for a period of two years from the closing
of the placement. All common shares and warrants issued as part of
the units will be subject to a statutory hold period of four months
and one day from the date the placement closes.
In the event the market closing price of Silver Range shares is
$0.35 or greater for a period of ten
consecutive trading days subsequent to the expiry of the statutory
hold period, Silver Range will have the right to provide all
warrant holders with notice that the expiry date for the warrants
has been shortened and the warrants will expire thirty calendar
days from the date of such notice.
The proceeds from this private placement, which is subject to
regulatory acceptance, will be used for working capital purposes.
Closing is expected to occur by mid-April, 2018.
Silver Range also announces that it has granted 500,000
incentive stock options to an officer and a director of the
company. The options entitle the holder to purchase up to 500,000
Silver Range common shares at a price of $0.17 per share at any time prior to March 14, 2023. The options will vest on a
quarterly basis commencing three months from the date of
granting.
Silver Range is a precious metals prospect generator working in
Nunavut, Nevada and the Northwest Territories. It
has assembled a portfolio of 39 properties, 12 of which are
currently optioned to four partners. Silver Range is actively
seeking other joint venture partners to explore the high precious
metal targets in its portfolio.
The securities referred to in 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.
registration 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 States 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.
"Ian J. Talbot"
Chief Operating Officer
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.
SOURCE Silver Range Resources Ltd.
