Range closes $656,150 second tranche of financing[url=https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aRGO-2321101&symbol=RGO®ion=C][/url]
Range closes $656,150 second tranche of financing
2015-10-30 15:26 MT - News Release
Mr. Toufic Chahine reports
CLOSING OF SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Range Energy Resources Inc., further to its news release dated Oct. 6, 2015, has closed the second tranche of the non-brokered private placement for a total of 16,403,750 units of the company at a price of four cents per unit for gross proceeds of approximately $656,150.
Each unit consists of one common share and one transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share of the company on or before Oct. 30, 2020, at a price of five cents per common share.
The securities issued are subject to a four-month hold period that expires on March 1, 2016.
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.
We seek Safe Harbor.
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