VANCOUVER, BC / ACCESSWIRE / April 20, 2020 / Silver Range Resources Ltd. (TSXV:SNG) ("Silver Range" or the "Company") announces that, in the interest of preserving its working capital in these uncertain times, it has amended its "Shares for Services Agreement" with Paladin Geoscience Corp. ("Paladin"), a private company controlled by Michael A. Power, Silver Range's President and Chief Executive Officer. Pursuant to the amending agreement, Paladin, which provides geological and other consulting services to Silver Range, will now receive a minimum of 50% and, at Paladin's sole discretion, up to a maximum of 100% of its monthly consulting fee by the issuance of Silver Range common shares.
All shares will be issued at a deemed price per share equal to the market price of Silver Range's shares as traded on the TSX Venture Exchange (the "Exchange") calculated at the end of each month in which such services are provided minus 50% of the discount permitted under applicable Exchange policies. The shares will be issued semi-annually and will be subject to a four month and one day hold period commencing upon the date of issuance. Any consulting fees not paid for by the issuance of Silver Range shares will be paid in cash. The amending agreement is subject to Exchange acceptance.
Mr. Power recently sat down with Proactive Vancouver to discuss the Company's high grade focus while highlighting two drill ready targets in Nevada, Skylight and Coldsprings. The interview is available here and on the Company's Youtube channel along with a growing number of project specific presentations.
About Silver Range Resources Ltd.
Silver Range is a precious metals prospect generator working in Nunavut, Nevada and the Northwest Territories. It has assembled a portfolio of 45 properties, 8 of which are currently under option to others. Silver Range is actively seeking other joint venture partners to explore the high grade precious metals targets in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
"Ian Talbot"
Chief Operating Officer
For further information concerning Silver Range or its exploration projects please contact:
Investor Inquiries
Richard Drechsler
Vice-President, 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 release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Silver Range Resources Ltd.
View source version on accesswire.com:
https://www.accesswire.com/585633/Silver-Range-Resources-Ltd-Announes-Amendments-to-Its-Shares-for-Services-Agreement
