Ranger Gold Corp.

The same bookkeeping problem resurfaced: preparing its fiscal 2023 audit, management again found unrecorded expenses paid from personal accounts, this time forcing a second restatement, of the December 2023 quarter.

financial restatement

Ranger Gold disclosed that its fiscal 2022 financial statements (and several 2022 quarterly reports) can no longer be relied on: management had been paying some company expenses from personal accounts without recording them, understating liabilities. The board called it an honest error, not fraud, and the company had to restate.

financial restatement

Ranger Gold Corp. deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice

Ranger Gold also gave up its other MinQuest option, the Truman Property, citing an inability to meet the required payments - ending the MinQuest relationship entirely - while simultaneously picking up a new 20-year lease on the Gent Property in Lander County, Nevada from Nevada Mine Properties II ($5,000 to sign, $5,000/year, minimal spending required until year five).

material agreement termination

Ranger Gold walked away from the CX Property, terminating its MinQuest option after a completed drill program found the ground didn't fit the company's plans; the property reverts to MinQuest.

material agreement termination

A private placement raised $500,000 at $1.25/share - more than eight times the price of its placements two months earlier, a sign the stock had re-rated sharply higher after the two Nevada property deals.

capital raising announcement

The company optioned a second Nevada property from MinQuest, the Truman Property in Mineral County (52 unpatented claims), on similar terms to the CX Property deal: roughly $510,000 in option payments and $2.5 million in exploration spending over ten years.

material agreement

The company optioned its first real asset, the CX Property in Nye County, Nevada (72 unpatented claims) from MinQuest, Inc., turning the shell into a gold explorer: up to $480,000 in option payments and $2.5 million in exploration spending over ten years, with MinQuest keeping a 3% royalty.

material agreement

Fenario, Inc. (later renamed Ranger Gold Corp.) changed hands: Gurpartap "Gary" Singh Basrai bought 55.5% of the dormant shell company from its founder for $152,500 and took over as CEO, with the prior officers and directors resigning.

business combination