Newrange Gold closes $897K first tranche

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By CPE News

Vancouver (pcJ News Briefs) – Newrange Gold Corp. (TSX-V: NRG; FSE: X6C) has closed first tranche of previously announced private placement of 2,990,366 units at $0.30 per unit for gross proceeds of $897,110

Newrange Gold also announced that the proposed private placement has been increased up to 5,150,327 units at $0.30 per unit for gross proceeds of up to $1,545,098.

Each unit consists of one common share and one share purchase warrant entitling the holder to purchase one additional common share for a two year period at a price of $0.45 per share subject to accelerated expiry.

Proceeds will be used principally to advance the company’s Pamlico project in Mineral County, Nevada.

Newrange Gold is an aggressive exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Colorado and Colombia.

photo credit: Newrange Gold