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

Rhea-AI Summary

Silver Range Resources Ltd. (TSXV:SNG) announced a proposal to issue 148,770 shares to Paladin Geoscience Corp. for geological consulting services provided between October 1, 2022 and March 31, 2023. The share issuance, pending acceptance by the TSX Venture Exchange, is structured under a 'Shares for Services Agreement' with share prices ranging from $0.0613 to $0.0744, calculated monthly with a 50% discount. Silver Range operates a portfolio of 45 properties in Nevada and Northern Canada, actively seeking joint venture partners for its high-grade precious metals targets.

Positive

• Issuance of shares for consulting services may strengthen business relationships.
• Portfolio consists of 45 properties, with 13 currently under option, indicating growth potential.

Negative

• Share issuance may dilute existing shareholder value.
• Dependence on external consulting for services raises operational risk.

VANCOUVER, BC / ACCESSWIRE / April 4, 2023 / Silver Range Resources Ltd. (TSXV:SNG) ("Silver Range") announces it proposes to issue a total of 148,770 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 October 1, 2022 through March 31, 2023. The shares are to be issued at deemed prices per share ranging from $0.0613 to $0.0744, 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 Nevada and Northern Canada. It has assembled a portfolio of 45 properties, of which 13 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 metals 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
http://www.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.

SOURCE: Silver Range Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/747400/Silver-Range-Resources-Ltd-Announces-Proposed-Issuance-of-Shares-for-Services

FAQ

What is the proposed share issuance by Silver Range Resources Ltd. for?

The proposed issuance of 148,770 shares is for geological consulting services provided by Paladin Geoscience Corp.

What is the share price range for the proposed issuance of shares?

The shares are to be issued at deemed prices per share ranging from $0.0613 to $0.0744.

When were the geological consulting services provided to Silver Range?

The services were provided from October 1, 2022, to March 31, 2023.

What is the significance of the TSX Venture Exchange in the press release?

The proposed share issuance is subject to acceptance by the TSX Venture Exchange.

How many properties does Silver Range Resources Ltd. have?

Silver Range has assembled a portfolio of 45 properties.