Movers and SHAKERS
Newrange Gold Corp. (NRGOF)(NRG:CA)
Newrange Closes First Tranche of Financing
As of April 24, 2020, Noble Capital Markets research on Newrange Gold is published under ticker symbols (NRGOF and NRG:CA). The price target is in USD and based on ticker symbol NRGOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Newrange Gold Corp is an exploration stage company focused on acquiring and exploring exploration and evaluation assets in Colombia and the United States. The Company operates in a single reportable operating segment-the acquisition, exploration, and development of mineral properties. Some of the projects acquired by the company are Pamlico gold project in Nevada and Rocky mountain project in Colorado. The company also holds an interest in the Yarumalito property, El Dovio property and Anori property in Colombia.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Non-flow-through financing. Newrange Gold closed the first tranche of a private placement and received gross proceeds of ~C$408,100 with the issuance of 5,830,332 non-flow-through (NFT) units at a price of C$0.07 per unit. Management and insiders acquired a total of 1,615,000 units. Each NFT unit is comprised of one common share and one-half share purchase warrant. Each whole NFT warrant may be exercised to purchase one common share for C$0.12 at any time until February 23, 2024. A second and final tranche to raise gross proceeds of ~C$100,000 is expected to close in approximately two weeks. Proceeds will be used, among other things, to fund surface exploration at the Pamlico project in Nevada.
Flow-through financing. Newrange expects to raise up to C$1,500,000 with the issuance of up to 15 million flow-through (FT) units at a price of C$0.10 per FT unit in a private placement. Each unit is comprised of one common share and one-half share purchase warrant. Each whole FT warrant may be exercised to purchase one common share at a price of C$0.12 at any time until February 23, 2024. Proceeds ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.