• TSX-V: SNG
  • $0.09

News Releases

Silver Range Resources Increases and Modifies Flow-through Private Placement

February 17, 2012
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINTION IN THE UNITED STATES


February 17, 2012 – Silver Range Resources Ltd. (TSX-V: SNG) (the “Company”) announces that further to its January 20, 2012 new release, it has increased the size of and modified the terms of a proposed flow-through private placement.

Subject to TSX Venture Exchange acceptance, the Company will replace the previously announced non-brokered 6,000,000 flow-through share offering with a non-brokered 7,000,000 flow-through unit offering. The price of the flow-through units will be $1.40 each. A unit will consist of one flow-through share and one-half of one flow-through warrant. Each whole warrant will entitle the holder to purchase one additional flow-through share at a price of $1.80 for a period of two years from the closing of the private placement. If the closing price of the Company’s shares as traded on the TSX Venture Exchange is $2.25 or greater for 20 consecutive trading days, the Company may give notice of an earlier expiry of the flow-through warrants, in which case the warrants would expire 30 calendar days from the date such notice is given to the flow-through warrant holders.

Gross proceeds from the sale of all the flow-through units will be $9,800,000 and will be used to fund 2012 exploration programs at the Company’s Silver Range and Mint projects, located in the Yukon Territory.

Also included in the Company’s January 20, 2012 new release was the announcement of a non-brokered 4,000,000 non-flow-through unit private placement. The terms of this non-flow-through unit offering are unchanged and remain as disclosed in the January 20, 2012 news release.

The Company anticipates that the 7,000,000 unit flow-through placement and the 4,000,000 unit non-flow-through placement will close concurrently on or before February 23, 2012

ON BEHALF OF THE BOARD

“W. Douglas Eaton”

President and Chief Executive Officer

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

Corporate Information

Silver Range Resources Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568

Silver Range Resources Ltd.
Bruce A. Youngman
Chairman
Tel: (604) 687-2522

Investor Inquiries

Richard Drechsler
Corporate 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.
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