Newrange Gold completes $874K financing

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By Ted Liu

Newrange Gold Corp. (TSX-V: NRG; FSE: X6C), formerly Colombian Mines Corporation, has closed two previously announced non-brokered private placements, the first for 9,411,765 units at a price of $0.085 per unit for gross proceeds of $800,000 and the second placement of 566,538 units at $0.13 per unit for gross proceeds of $73,650.

Strategic investors Robert Hirschberg, Sethu Raman and Sam Sehota took place in both placements.

Proceeds will be used to advance its high grade Pamlico gold project in Nevada and the company will also extend its existing environmental permits at El Dovio.

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

photo credit: Newrange Gold