Newrange Gold Closes Non-Brokered Financing

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[{"type":"text","content":"Newrange Gold Closes Non-Brokered Financing(via TheNewswire)\n \n \nVANCOUVER, BRITISH COLUMBIA / TheNewswire / June 17, 2019 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) - Newrange Gold Corp. (\"Newrange\" or the \"Company\") is pleased to announce, subject to regulatory approval, the closing of a private placement for gross proceeds totaling $503,020 consisting of 3,593,000 units (the \"Units\") at a price of $0.14 per Unit. Each Unit consists of one common share (the \"Shares\") and one-half share purchase warrant (the \"Warrants\"). Each whole Warrant will entitle the holder to purchase one additional Share at a price of $0.20 for a period of two years from the date of issue of the Warrants.\n\n\n \nInsiders subscribed for an aggregate of 630,000 Units for a total of $88,200. As insiders of Newrange participated in the financing, it is deemed to be a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61- 101\"). Newrange is relying on the exemptions from the formal valuation and minority approval requirements contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market value of the transaction does not exceed 25% of Newrange's market capitalization. The Company will be filing a material change report in respect of the related party transaction on SEDAR less than 21 days prior to the closing of the transaction due to the fact that the Company wished to close the transaction as soon as practicable to enable it to use the funds for short-term cash requirements. Proceeds raised from the private placement will be used to advance the Company's high-grade Pamlico project and for general working capital.\n\n\n \nA finder's fee or commission equal to 7% cash will be payable upon $160,300 in respect to this financing. All securities issued are subject to a four-month hold period from the date of issuance. The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.\n\n\n \nAbout Pamlico\n\n\n \nLocated 12 miles southeast of Hawthorne, Nevada, along US Highway 95, the project enjoys excellent access and infrastructure, a mild, year-r...

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