6 million dollar bet, fingers crossed November 1, 2013
NEWS RELEASE
CLOSING OF NON-BROKERED PRIVATE PLACEMENT FINANCING
Vancouver, BC, Canada – Range Energy Resources Inc. (the “Company”) (CNSX: RGO) (FWB: YGK) is pleased to announce that further to its news release dated October 30, 2013, it closed the non-brokered Private Placement for 122,000,000 units (the “Units”) of the Company at a price of CDN$0.05 per Unit for gross proceeds of $6,100,000.
Each Unit consists of one (1) common share and one (1) transferrable share purchase warrant. Each warrant will entitle the holder thereof to purchase one (1) additional common share of the Company on or before November 1, 2018 at a price of CDN$0.05 per common share.
The securities issued are subject to a four (4) month hold period that expires on March 2, 2014.
The capital from the Offering will be used by the Company to continue to fulfill its obligations to joint venture participants so that the development of the Khalakan Block in the Kurdistan Region of Iraq can continue as well as provide general working capital.
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