Range Energy investor Harrington Global increases holding to 16.38%

Range Energy {CSE: RGO} has announced a private placement at 4 cents a unit to existing large holder Harrington Global.

As a result, Harrington will hold shares and warrants of 16.38% of the company.



Range Energy investor Harrington buys 16 million units


2015-10-29 17:22 ET – News Release




Harrington Global Ltd., on behalf of Harrington Global Opportunities Fund Sarl, which it manages and advises, today acquired a total of 16,403,750 units of Range Energy Resources Inc. {CSE: RGO} at a price of four cents per unit on a private placement basis. Each unit consists of one common share and one common share purchase warrant of Range. Each warrant will entitle the holder thereof to purchase one share at a price of five cents at any time before Oct. 29, 2020.


Prior to the acquisition, the fund owned 76,433,000 shares. As a result of the acquisition, the fund beneficially owns, and Harrington exercises control and direction over, a total of 92,836,750 shares and 16,403,750 warrants, representing approximately 16.38 per cent of the issued and outstanding shares of 650,468,816 as confirmed by Range, calculated on a partially diluted basis.


The securities of Range were acquired in the ordinary course of business, for investment purposes only. Depending on market conditions and other factors, Harrington, on behalf of the fund, may from time to time acquire additional securities of Range, or continue to hold or dispose of some or all of the securities of Range in the open market, by private agreement or otherwise.


This news release is issued pursuant to National Instrument 62-103, the early warning system, and related takeover bid and insider reporting issues, which requires a report to be filed on SEDAR containing additional information with respect to the foregoing matters.