Business
Newrange Gold Welcomes Strategic Investor, Appoints New Board Member and Closes First Tranche of Financing
(via TheNewswire) VANCOUVER, BRITISH COLUMBIA - TheNewswire - December 23,...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"Newrange Gold Welcomes Strategic Investor, Appoints New Board Member and Closes First Tranche of Financing(via TheNewswire)\n \n \nVANCOUVER, BRITISH COLUMBIA - TheNewswire - December 23, 2019 (TSXV:NRG), (OTC:NRGOF), (Frankfurt:X6C) - Newrange Gold Corp. (\"Newrange\" or the \"Company\") is pleased to welcome Orimco Resource Investment Advisors (\"Orimco\") as a strategic investor. Orimco is based in Perth, Australia and is an investment advisory firm providing services to companies, wholesale investors and financiers focused on the global mining industry. They are respected within the global mining industry, and have very strong mining technical, financial, and commercial skills, with which to help build successful mining businesses.\n\n\n \nNewrange is also pleased to announce that Colin Jones, Principal Consultant for Orimco has joined the Company's Board of Directors. Mr. Jones has almost 40 years' experience as a mining, exploration and consulting geologist in a number of different geological environments and has worked on all continents on producing mines, as part of feasibility teams and as an explorationist. He has managed large exploration and due diligence projects, and has undertaken numerous bankable technical audits, technical valuations, independent expert reports and due diligence studies worldwide, most of which were on behalf of major international resource financing institutions and banks. Mr. Jones holds a Bachelor of Science (Earth Sciences) degree from Massey University, NZ.\n\n\n \nIn addition, the Company has, subject to regulatory approval, closed the first tranche of a non-brokered private placement for gross proceeds of $1,050,000 consisting of 10,500,000 shares. The financing was priced at $0.10 with no warrant. Proceeds will be used to advance the Company's flagship Pamlico Project in Nevada and for general working capital. The second and final tranche of approximately $450,000 should close in early January and is fully subscribed.\n\n\n \n\"We are extremely pleased to have Orimco as a financial and technical partner, including having Colin as part of our team,\" stated Robert Archer, Newrange CEO. \"Their involvement is a strong endorsement of the Pamlico Project and Newrange's management. Orimco has already been instrumental in bringing new investment into the Company. This financing will bridge th...