Impact Announces $1.7 Million Capital Raise Led by Strategic Investors
Summary
CLEVELAND, OHIO (December 21, 2023) Range Impact, Inc. (OTC: RNGE) (Range Impact), a public company dedicated to improving the health and wellness of people and the planet through a novel and innovative approach to impact investing, announced the closing of a $1,700,000 capital raise.The capital raise was led by Intelligent Fanatics Capital Management, a Pennsylvania-based microcap investment firm, Carlson Ridge Capital, a Colorado-based value investment firm, and Dickinson Group, a multi-generational West Virginia-based family office with significant land holdings and business interests throughout Appalachia. Also participating in the latest capital raise were Edward Feighan, Range Impacts Chairman of the Board, Michael Cavanaugh, Range Impacts CEO and Board Member, and Andrew Tobias, best-selling author on topics such as money, investing and insurance.The investors entered into securities purchase agreements pursuant to which they acquired a total of 11,333,336 shares of Range Impacts common stock at a price of $0.15 per share.Michael Cavanaugh, Range Impacts Chief Executive Officer, stated, I am thrilled to welcome two sophisticated and highly respected institutional investors, a first-class family office, and best-selling author on investments to join our company as key shareholders. I am honored to continue to build our company with such exceptional partners and look forward to the important work ahead of us.Headquartered in Cleveland, Ohio, Range Impact is a public company (OTC: RNGE) dedicated to improving the health and wellness of people and the planet through a novel and innovative approach to impact investing. Range Impact owns and operates several complementary operating businesses focused on developing long-term solutions to environmental, social, and health challenges, with a particular focus on acquiring, reclaiming and repurposing mine sites and other undervalued land in economically disadvantaged communities throughout Appalachia. Range Impact seeks to thoughtfully allocate its capital into strategic opportunities that are expected to make a positive impact on the people-planet ecosystem and generate strong investment returns for its shareholders.This press release contains forward-looking statements as that term is defined in Section 27(a) of the Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended.