Newrange Gold Corp. announced a non-brokered private placement of 15,000,000 flow-through units at a price of CAD 0.10 per flow-through unit for gross proceeds of CAD 1,500,000 and non-flow-through units at a price of CAD 0.07 per unit on February 24, 2022. The transaction will include participation from Insiders for 1,615,000 units for a total of CAD 113,050. Each non-flow-through unit consists of one common share and one-half share purchase warrant. Each flow-through warrant entitles the holder thereof to purchase one common share at an exercise price of CAD 0.12 at any time until February 23, 2024. Each flow-through unit consists of one common share of the Company and one-half share purchase warrant. Each FT Warrant entitles the holder thereof to purchase one common share at an exercise price of CAD 0.12 at any time until February 23, 2024. The flow-through unit and the second and final tranche of the non flow-through unit financing (approximately CAD 100,000) are expected to close in approximately two weeks. All securities issued are subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval.

On the same day, the company issued 5,830,332 non-flow-through units at a price of CAD 0.07 per unit for gross proceeds of CAD 408,100 in its first tranche closing. The company paid cash finder's fees or commissions in the amount of CAD 13,720 were paid on the first tranche and the Company issued 63,000 share purchase finders warrants. Each Finders Warrant entitles the holder thereof to purchase one common share at an exercise price of CAD 0.12 for a two-year period.