RANGE SEEKING FINANCING FOR MIDDLE EAST PROJECTS
Vancouver, BC, Canada –Range Metals Inc. (CNSX:RGO) (FWB:YGK) (“Range or the “Company”) is pleased to announce that in connection with negotiations to acquire an interest in an oil and gas property located in the Middle East, it has engaged Roche Securities Ltd. of Toronto, Ontario to raise up to $10 million by way of Subscription Receipts, each subscription receipt to be sold at a price of $0.20.
If the negotiations to acquire the property interest prove successful, it is expected that the proceeds of the financing will be used principally to finance the purchase price of the acquired interest. The proceeds from the sale of the Subscription Receipts will be held in escrow and released concurrently with completion of the acquisition, whereupon each Subscription Receipt will convert into a unit consisting of one common share and ˝ share purchase warrant. Every two warrants will entitle the holder to acquire one common share of the Company for $0.25 for a two year period following issuance of the units.
On Behalf of the Board of Directors:
Donald R. Sheldon, President
