Silver Range Resources Ltd. Announces Proposed Issuance of Shares for Services

Rhea-AI Summary

Silver Range Resources Ltd. to issue shares to Paladin Geoscience Corp. in consideration for geological consulting services

Positive

• Silver Range Resources Ltd. proposes to issue a total of 236,436 shares to Paladin Geoscience Corp. as partial consideration for geological consulting services provided from April 1, 2023, to September 30, 2023.
• The shares will be issued at deemed prices per share ranging from $0.0744 to $0.0963, based on the market prices of Silver Range's shares as traded on the Exchange.
• This share issuance is subject to TSX Venture Exchange acceptance.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / October 18, 2023 / Silver Range Resources Ltd. (TSXV:SNG) ("Silver Range") announces it proposes to issue a total of 236,436 shares to Paladin Geoscience Corp. ("Paladin"), a private company controlled by Michael A. Power, Silver Range's President and Chief Executive Officer, pursuant to a "Shares for Services Agreement".

The proposed share issuance, which is subject to TSX Venture Exchange (the "Exchange") acceptance, is in partial consideration for geological consulting services provided to Silver Range by Paladin during the period April 1, 2023 through September 30, 2023. The shares are to be issued at deemed prices per share ranging from $0.0744 to $0.0963, being the market prices of Silver Range's shares as traded on the Exchange as calculated at the end of each month in which such services were provided, minus 50% of the discount permitted under applicable Exchange policies. All consulting fees not paid for the issuance of Silver Range shares are paid in cash.

About Silver Range Resources Ltd.

Silver Range is a precious metals prospect generator working in the southwestern United States and northern Canada. It has assembled a portfolio of 42 properties, of which 14 are currently under option to others. Four other projects have been converted to royalty interests. Silver Range is actively seeking other joint venture partners to explore the high-grade precious metal targets in its portfolio.

ON BEHALF OF SILVER RANGE RESOURCES LTD.

"Michael A. Power"
President and Chief Executive Officer

For further information concerning Silver Range or its exploration projects please contact:

Investor Inquiries
Richard Drechsler
Vice-President, Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@silverrangeresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

http://www.silverrangeresources.com

SOURCE: Silver Range Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/793969/silver-range-resources-ltd-announces-proposed-issuance-of-shares-for-services

FAQ

What is the purpose of Silver Range Resources Ltd. issuing shares to Paladin Geoscience Corp.?

The shares are being issued as partial consideration for geological consulting services provided by Paladin Geoscience Corp. to Silver Range Resources Ltd.

What is the range of prices at which the shares will be issued?

The shares will be issued at deemed prices per share ranging from $0.0744 to $0.0963.

Is the share issuance subject to any conditions?

Yes, the share issuance is subject to TSX Venture Exchange acceptance.