Silver Range closes initial tranche of private placement

Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF) closed the initial tranche of its non-brokered private placement, generating total proceeds of up to $82,500 by issuing 825,000 units at $0.10 per unit, each containing one common share and one non-transferable share purchase warrant. The funds raised will support continued exploration efforts in the southwestern US and contribute to working capital needs, said the company.