Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF) said it has completed its previously-announced private placement, which consisted of the sale of 4 million company units, at a price of $0.15 each, for total proceeds of C$600,000.
Each unit consisted of one common share and one non-transferable share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.20 until April 11, 2024.
All securities issued are subject to a hold period until August 12, 2022.
READ: Silver Range Resources announces non-brokered private placement of up to 4 million units for total proceeds of up to $600,000
Silver Range noted it paid cash finders' fees totalling C$4,875 to GloRes Securities Inc and Canaccord Genuity (TSX:CF, LSE:CF) Corp in connection with this private placement.
As well, the company reported that it has completed a first pass (10 trench) program at the Cambridge property in Nevada, in which it is investigating highly anomalous gold-in-soil anomalies.
Silver Range also said gold-in-soil anomalies were trenched on the BH Grid east of the former Ben Hur Mine at the Bellehelen Property in Nevada, with results pending.
It added that reconnaissance work, followed by staking, was completed on a target in southern Nevada.
The company also revealed that it is sponsoring and will be attending the 2022 Geological Society of Nevada at the end of April, with its field operations expected to resume shortly thereafter.
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 Sean at sean@proactiveinvestors.com