Non-brokered deal sells 87.5 million units at C$0.04 per unit
By Devika Patel
Knoxville, Tenn., March 13 - Range Energy Resources Inc. said it settled a C$3.5 million non-brokered private placement of units.
The company sold 87.5 million units of one common share and one warrant at C$0.04 per unit.
Each warrant is exercisable at C$0.05 until March 12, 2015. The strike price is a 66.67% premium to the March 12 closing share price of C$0.03.
Proceeds will be used for exploration on the company's Khalakan Block project in Kurdistan and general working capital purposes.
Range Energy, based in Vancouver, B.C., explores mineral and oil and gas resource properties.
| Issuer: | Range Energy Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3.5 million
|
| Units: | 87.5 million
|
| Price: | C$0.04
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | March 12, 2015
|
| Warrant strike price: | C$0.05
|
| Agent: | Non-brokered
|
| Pricing date: | March 13
|
| Stock symbol: | CNSX: RGO
|
| Stock price: | C$0.03 at close March 12
|
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