Calgary, Alberta, Dec. 15, 2022 – Long Range Exploration Corporation (“LREX” or the “Company”) is pleased to announce the completion of a Private Placement to mainly International Investors which resulted in the raising of $145,000 of new capital as a prelude to the planned IPO process in early 2023.
The Private Placement consisted of issuing 2,900,000 common shares from Treasury priced at $0.05 per common share that has subsequently attracted eight new shareholders to the register.
Darrell Brown, Chief Executive Officer of LREX, commented, ”We are very grateful to the participants of the Private Placement which provided additional capital to undertake our upcoming Initial Public Offering and ongoing exploration activities”.
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