EnviroGold Global (Can) Ltd. entered into a business combination agreement to acquire Range Energy Resources Inc. (CNSX : RGO.X) in a reverse merger transaction on March 26, 2021. The resulting issuer that will exist upon completion of the transaction will carry on the current business of EnviroGold Global. In connection with the transaction, Range Energy will reconstitute its board of directors and senior management, and change its name to “EnviroGold Global Limited” or such other similar name as may be accepted by the relevant regulatory authorities and the Resulting Issuer will conduct its business under the new name “EnviroGold Private Limited or such other similar name as may be accepted by the relevant regulatory authorities. David Cam will join as Chairman and Director, Sean FoleySean Foley, Harold Wolkin, Roger Bethel, Allan Bezanson, each as Director, and John Ross as Chief Financial Officer. On April 15, 2021, Range Energy advised that it has amended the business combination agreement such that the definition of “Financing” therein has been updated, to mean “a non-brokered private placement of EnviroGold Subscription Receipts and/or units comprised of one EnviroGold Share and up to one EnviroGold Financing Warrant, and each at an issue price implied by a CAD 17,894,223.76 pre-money valuation of EnviroGold, for gross proceeds of a minimum of CAD 500,000”.

The combination agreement includes a number of conditions, including but not limited to, regulatory approvals including CSE approval, corporate approvals, third-party approvals, approval for listing of shares by CSE, shareholder approvals, including the approval of the shareholders of Range Energy and EnviroGold Global as applicable; the completion of the Range Debt Settlement; the completion of the EnviroGold Financing for gross proceeds of a minimum of $500,000; the completion of the name change; the issuance of common shares in the capital of Range Energy (“Range Shares”) to holders of common shares in the capital of EnviroGold Global on the basis of a share exchange ratio that results in the current holders of EnviroGold Shares holding 87.5% of the common shares of the resulting issuer and the current holders of Range shares holding 12.5% of the resulting issuer shares, calculated on a basis that is inclusive of the Range shares issued under the Range debt settlement but exclusive of the EnviroGold Shares issued under the EnviroGold Financing; all the conditions for the release of the gross proceeds from the Financing from escrow shall have been satisfied or waived, and other closing conditions customary to transactions of the nature of the transaction. The transaction also requires that all Range shareholders holding 10% or more of the issued and outstanding Range shares, as at the time immediately prior to the effective time, will have entered into customary lock-up agreements, approval from Board of Range and EnviroGold, the EnviroGold employment agreements shall have been entered into, resignations of Range Directors, and Range having no liabilities, other than ordinary course payables, not to exceed CAD 140,000, among others. The transaction is expected to close on June 1, 2021. Grant Duthie of Garfinkle Biderman LLP acted as legal advisor for EnviroGold. Derek Yu of Harris + Harris LLP acted as legal advisor for Range. Manning Elliott LLP provided auditor's report on financials of Range Energy Resources.

EnviroGold Global (Can) Ltd. completed the acquisition of Range Energy Resources Inc. (CNSX : RGO.X) in a reverse merger transaction on July 14, 2021. The resulting entity's name has been changes to EnviroGold Global Limited. Prior to the closing of EnviroGold completed a non-brokered private placement for aggregate gross proceeds of approximately CAD 4.6 million. Upon closing of the Transaction, Allan Bezanson resigned as Chief Executive Officer and a Director, Eugene Beukman resigned as Chief Financial Officer, and Rick Pawluk and Peter McRae each resigned as a Director. Accordingly, the board of directors and management of EnviroGold Global Limited were reconstituted as follows in place of the previous directors and officers including Mark B. Thorpe, David V. Cam, Harold M. Wolkin, Robert Sean Foley, John Ross, Roger Bethell, Brock Hill, Ian Hodkinson, and Dan Buckley. CSE has conditionally approved the listing of the EGGL Shares in connection with the Transaction. National Securities Administrators Ltd acted as transfer agent for Range Energy Resources.