(via TheNewswire)
The issuance of 3,714,286common shares to directors and officers of the Company constitutes a "related party transaction" as this term is defined in Multilateral Instrument 61-101: Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The directors and officers of the Company, acting in good faith, determined that the fair market value of the common shares being issued pursuant to the shares for debt transaction and the consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the common shares nor the debt exceeds 25% of the Company's market capitalization.
About
Newrange is currently focused on district-scale exploration for precious metals in the prolific
Signed: “Robert Archer”
President & CEO
For further information contact:
Email: info@newrangegold.com
Website:www.newrangegold.com
Neither the
Copyright (c) 2024 TheNewswire - All rights reserved.
Copyright (c) 2024 TheNewswire - All rights reserved., source