Silver Range Resources Ltd. Announces Issuances of “Shares for Services“
VANCOUVER, October 13, 2021 - Silver Range Resources Ltd. (TSXV:SNG) ("Silver Range" or the "Company") announces that it has issued the following shares to Paladin Geoscience Corp. ("Paladin"), a private company controlled by Michael A. Power, Silver Range's President and Chief Executive Officer pursuant to "Shares for Services Agreements": - 72,147 shares for the period October 1, 2020 to March 31, 2021, which shares were subject to a hold period which expired on October 1, 2021; and
- 223,136 shares for the period April 1, 2021 to September 30, 2021, which shares are subject to a hold period which expires on February 13, 2022.
The shares were issued in partial consideration for geological and other consulting services provided to Silver Range by Paladin during the above-mentioned periods.
The shares were issued at a deemed price per share equal to the market price of Silver Range's shares as traded on the TSX Venture Exchange (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 by 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 16 are currently under option to others. Three other properties 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, Chief Executive Officer and Director
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 news 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.