Calgary, Alberta, Oct. 26, 2022 – Long Range Exploration Corporation (“LREX” or the “Company”) is pleased to announce that it has appointed Leede Jones Gable Inc. (“Leede”) of Vancouver to act as its agent to undertake the Company’s Initial Public Offering. The offering of up to 20,000,000 common shares priced at $0.10 per common share will seek to raise up to $2,000,000 for the Simms Ridge Property in Newfoundland.
The offering will be subject to a minimum of 5,000,000 common shares priced at $0.10 per common share for total proceeds of $500,000. Net proceeds of the offering will be used for ongoing exploration work at Simms Ridge Property, for working capital and general corporate purposes.
Darrell Brown, Chief Executive Officer of LREX, commented, “We are extremely pleased to engage Leede as our Agent for accepting the role for the Initial Public Offering of LREX. We look forward to working with the Leede team in undertaking this transformational event for the Company”.
About Long Range Exploration Corporation
Long Range is a Calgary-based mineral exploration company focused on the discovery and development of structurally controlled orogenic gold projects in Newfoundland, Canada. The Company is presently concentrating its efforts on its wholly owned Simms Ridge Property immediately south of Pollard’s Point, located within the Humber Zone of the Newfoundland Appalachian Mountain Belt. Learn More.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company’s mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.
CONTACT: Howie Wakeham, Director & VP Corporate Development, +1 403-847-9911