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Newrange Closes Acquisition of Past-Producing, High-Grade Argosy Gold Mine in the Red Lake Mining Division
(TheNewswire) VANCOUVER, BRITISH COLUMBIA – TheNewswire - ...
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[{"type":"text","content":"Newrange Closes Acquisition of Past-Producing, High-Grade Argosy Gold Mine in the Red Lake Mining Division\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n VANCOUVER, BRITISH\nCOLUMBIA –\n \n \n \n \n TheNewswire -\n \n \n \n \n November 1, 2021 (TSXV:NRG\n \n \n \n \n )\n \n \n \n \n US\n \n \n \n \n (OTC\n \n \n \n \n :NRGOF\n \n \n \n \n )\n \n \n \n \n (\n \n \n \n \n Frankfurt:X6C)\n–\n \n \n \n \n Newrange Gold Corp.\n \n \n \n (\"\n \n \n Newrange\n \n \n \" or the “\n \n \n Company\n \n \n \") is pleased to announce that it\nhas closed the acquisition of a 100% interest in the past-producing,\nhigh-grade Argosy Gold Mine in the Red Lake Mining Division of\nnorthwestern Ontario as previously disclosed in Newrange press\nrelease dated August 5, 2021\n \n \n .\n \n \n \n \n Pursuant to the acquisition, the Company acquired all\nof the shares of Cangold Ltd., which owns the mine, in exchange for\n$100,000, the issuance of 4,461,007 common shares and the requirement\nto issue $250,000 in common shares on November 1, 2022, as evidenced\nby a promissory note, at the greater of: (i) 90% of the volume\nweighted average price at which the common shares have been traded on\nthe Exchange during the 20 trading days preceding November 1, 2022;\nand (ii) $0.1125.  All securities issued pursuant to the closing\nwill be subject to a four month hold period that will expire on March\n2, 2022.\n \n \n \n \n “The Argosy Mine is the most significant\npast-producing gold mine in the Birch-Uchi Greenstone Belt,” stated\nRobert Archer, Newrange President & CEO.  “The advancement of\nthe nearby Springpole deposit has brought a lot of attention to the\npotential of this region and we believe that Argosy and our\nneighbouring North Birch Project position the Company well to benefit\nfrom that development.”\n \n \n \n \n About Newrange Gold Corp.\n \n \n \n \n \n \n Newrange is focused on\ndistrict-scale exploration for precious metals in favorable\njurisdictions including Nevada and Ontario.  The Company’s Pamlico\nProject in Nevada contains a large-scale multi-phase polymetallic\nmineralizing system with multiple gold and copper targets spread over\nmore than 5,700 hectares.   In the prolific Red Lake District of\nnorthwestern Ontario, the past-produci...