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Range Energy Resources Announces Non-Brokered Private Placement Financing

May 19, 2014



ENP Newswire - 19 May 2014

Release date- 15052014 - Range Energy Resources Inc. is pleased to announce a non-brokered private placement of up to 22,727,272 units of the Company at a price of CDN$0.055 per unit for gross proceeds of up to $1,250,000.

A price reservation has been obtained from the Canadian Stock Exchange. Each Unit will consist of one (1) common share (the 'Common Share') and one (1) transferrable share purchase warrant. Each warrant will entitle the holder thereof to purchase one (1) additional Common Share for a period of five (5) years from the Closing Date of the Offering at a price of CDN$0.07 per Common Share.

The closing is subject to receipt of all necessary regulatory and Board approvals. The securities issued pursuant to the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws. The Company anticipates that there may be insider participation in the Offering.

The capital from the Offering will be used by the Company to continue to fulfill its obligations to joint venture participants so that the development of the Khalakan Block in the Kurdistan Region of Iraq can continue as well as provide general working capital.

For further information on Range Energy Resources Inc., please visit the Company's web site at www.rangeenergyresources.com

Contact:

Toufic Chahine

Tel: 604-688-9600

Fax: 604-602-1606

Email: range@rangeenergyresources.com

This news release contains certain statements that may be deemed to include 'forward-looking information'. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur.

Although Range Energy believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Range Energy's management on the date the statements are made. Except as required by law, Range Energy Resources Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.


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Source: ENP Newswire


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