Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF) has announced a non-brokered private placement of up to 4,000,000 units at a price of $0.15 per unit, for total proceeds of up to $600,000.
Each unit will consist of one common share and one non-transferable share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of $0.20 for a period of two years from closing.
The company said the proceeds will be used to finance further exploration in Nevada.
READ: Silver Range Resources says it sampled high-grade gold and silver as it expands Roughrider property in Nevada
This private placement is subject to regulatory acceptance and is expected to close by April 29, 2022.
Silver Range is a precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 45 properties, 13 of which are currently optioned to others. Four projects have been converted to royalty interests.
The company is actively seeking other joint venture partners to explore the high-grade precious metals targets in its portfolio.
Contact the author at jon.hopkins@proactiveinvestors.com