VANCOUVER, BRITISH COLUMBIA, October 6, 2023 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) is pleased to announce that, at the Annual General and Special Meeting of Shareholders held virtually on Thursday, October 5, 2023, shareholders voted overwhelmingly in favour of all items to be voted upon, including the proposed merger with ASX-listed Mithril Resources Limited.
Of the 37,753,820 shares issued and outstanding, 11,946,974 shares, or 31.64% were voted at the meeting and all matters were passed with more than 99% in favour. On the previously announced transaction (Newrange News Release of May 25, 2023) whereby Newrange will acquire 100% of the issued share capital of Mithril Resources Limited (“Mithril”) in a friendly business combination, shareholders voted 99.91% in favour. The arm’s length transaction is being completed via a Scheme Implementation Deed (the “Scheme”) and will be classified as a Reverse Take Over (the “RTO”) under the TSX Venture Exchange RTO Policy 5.2. Newrange will remain as the resulting Tier 2 mining issuer, to be renamed Pinnacle Silver and Gold Corp., and Mithril will be de-listed from the ASX. Details of the RTO are outlined in the Information Circular and the Scheme Booklet, both of which are available on the Newrange website here. All components of the RTO are subject to final TSXV approval and the Company notes that until all conditions precedent have been satisfied, there is no certainty that the Scheme will proceed.
Newrange is an exploration company listed on the TSXV, with a focus on district-scale exploration for precious metals in the prolific Red Lake District of north-western Ontario, Canada. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional discovery potential. Further information can be found on our website at www.newrangegold.com.
Signed: “Robert Archer”
President & CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.