VANCOUVER, BC / ACCESSWIRE / March 3, 2023 / Silver Range Resources Ltd. (TSXV:SNG, Financial) ("Silver Range") announces the closing of the $500,000 private placement with Altius Minerals Corporation ("Altius") through its wholly-owned subsidiary, Altius Resources Inc., as originally announced on February 21, 2023. The private placement consisted of the sale of 3,333,333 common shares of Silver Range at a price of $0.15 per share, for total consideration of $500,000. All of these shares are subject to a hold period until July 2, 2023.
As previously announced, Silver Range has also agreed to a generative alliance in the southwest U.S. whereby Altius will acquire a one percent (1%) net smelter return royalty interest on three Silver Range projects staked within a specified area of interest in the southwest United States.
The proceeds from this private placement will be used primarily for exploration work in the southwest United States.
Silver Range also announces that it has been granted an extension until March 28, 2023 to close the unit private placement originally announced on January 17, 2023, to consist of the sale of up to 6,000,000 units at a price of $0.15 per unit, for total proceeds of up to $900,000. Each unit will consist of one common share and one-half (1/2) of a non-transferable share purchase warrant, with each whole warrant to entitle the holder to purchase one additional common share at a price of $0.30 for a period of two years from closing. Further information regarding the closing will be disseminated in due course.
Silver Range invites investors and prospective partners to visit with management during PDAC 2023 from March 5-8 at booth #3124.
About Silver Range Resources Ltd.
Silver Range is a precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 45 properties, 13 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 metals targets in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
"Mike Power"
President and CEO
For further information concerning the private placement, 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
[email protected]
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.
SOURCE: Silver Range Resources Ltd.
View source version on accesswire.com:
https://www.accesswire.com/741769/Silver-Range-Resources-Ltd-Closes-Private-Placement
