Business
Newrange Concludes Sales of Colombian Assets and Advances Property Options for North Birch Project
(TheNewswire) VANCOUVER, BRITISH COLUMBIA - TheNewswire...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"Newrange Concludes Sales of Colombian Assets and Advances Property Options for North Birch Project\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BRITISH\nCOLUMBIA -\n \n \n \n \n TheNewswire -\n \n \n \n \n January 18, 2021 (TSXV:NRG\n \n \n \n \n ) (OTC:\n \n \n \n \n NRGOF\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\n \n \n to provide the following corporate update.\n \n \n \n \n The Company has exercised its option to acquire a 100%\ninterest in the H Lake Property, which forms the western portion of\nits North Birch Project east of Red Lake, Ontario.  Pursuant to the\nOption Agreement signed with Bounty Gold Corp. on January 13, 2020,\nNewrange has paid a total of $50,000 in cash and issued 400,000 shares\nfor a 100% interest in H Lake, subject to a 2% NSR royalty.  The\nCompany has also made the first anniversary cash payment and share\nissuance on the Western Fold Property that forms the eastern portion\nof North Birch.  There is one year left on the option to acquire a\n100% interest in the Western Fold Property, also subject to a 2% NSR\nroyalty.\n \n \n \n \n The sale of the Yarumalito Property in Colombia has\nbeen completed with the transfer of the property title from\nNewrange’s Colombian subsidiary to that of GoldMining Inc. by the\nColombian government.  The closing of the sale has effected the\nrelease from escrow of 559,179 shares of GoldMining to Newrange.  In\naddition, the sale of Newrange’s Colombian subsidiary and the El\nDovio Project to Andean Mining Corp. has also been finalized with the\npayment to Newrange of US$750,000.  Newrange retains a 1% NSR royalty\non the Yarumalito Project and a 2% NSR royalty on the El Dovio\nProject\n \n \n \n \n “We are pleased that all of this corporate activity\nhas culminated within a very short period of time,” stated Robert\nArcher, Newrange’s CEO.  “The acquisition of a 100% interest in\nthe H Lake Property and the advancement of the Western Fold option\ndemonstrate our commitment to the North Birch Project.  The closing\nof the two deals in Colombia is key to the monetization of our assets\nthere as it ...