Mr. Donald Sheldon reports
RANGE ENERGY RESOURCES INC. ANNOUNCES STRATEGIC REVIEW PROCESS AND APPOINTMENT OF ALLAN BEZANSON TO BOARD OF DIRECTORS
Range Energy Resources Inc. has initiated a process to identify and consider its strategic alternatives for maximizing shareholder value.
In this connection, a party has submitted an unsolicited and non-binding offer to acquire Range's outstanding shares. Discussions regarding the offer are at a very early stage, but in any event Range wishes to fully canvass its options before deciding how to proceed.
Other possibilities might include asset sales, joint ventures, new capital investments and a sale of the company to a different party. There can be no assurance that this review process will result in a transaction.
Range is very pleased to announce the appointment of Allan Bezanson to the board of directors, effective today. Mr. Bezanson is the managing partner of Cornerstone Capital Partners, a Toronto-based investment bank specializing in structuring and facilitating private equity investments in energy, resources and early stage technology sectors. Previously, he was president and partner at Oballan Capital and Osprey Capital.
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