Vancouver (pcJ News Breifs) – Silver Range Resources Ltd. (TSX-V: SNG) has closed previously announced private placement of 4,000,000 units at a price of $0.20 per unit for gross proceeds of $800,000.
Each unit consists of one common share and one non-transferable share purchase warrant, with each 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.
Silver Range paid cash finders’ fees of $6,000 to PI Financial Corp. and $3,000 to Canaccord Genuity Corp. in connection with this private placement.
Proceeds will be used for working capital purposes. The financing is expected to close by mid-April, 2017.
Silver Range Resources is a project generator focused on high grade gold projects in Nunavut, the Northwest Territories and Nevada.
photo credit: Silver Range Resources