Endurance Gold to increase placement to $3M

Feb 7, 2022

2022-02-07 07:38 ET – News Release

Mr. Robert Boyd reports

ENDURANCE GOLD INCREASES NON-BROKERED PRIVATE PLACEMENT TO $3 MILLION

Endurance Gold Corp. plans to increase the size of the non-brokered private placement previously announced on Jan. 31, 2022, with about 50-per-cent participation by Evanachan Ltd., a company controlled by Robert McEwen.

The company intends to increase the non-brokered private placement of 6.25 million units to up to 7.5 million units for increased gross proceeds of up to $3.0-million. Each unit remains at a price of 40 cents per unit. Other than the size of the offering increase, all the terms remain the same as announced on Jan. 31, 2022. Each unit will consist of one common share and one-half non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional share of the company at an exercise price of 55 cents for a period of two years from the date of issuance thereof. Proceeds raised from the sale of the units will be used by the company for exploration activities and for general corporate purposes.

The offering is made to accredited investors within the meaning of National Instrument 45-106 and the completion of the offering is subject to the receipt of acceptance by the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a statutory hold period expiring four months plus one day from the closing. Finders’ fees may be payable in connection with the sale of the units in accordance with the policies of the exchange.

“We have received significant interest in our financing from sophisticated investors and, amongst others, are very pleased to welcome Evanachan Ltd., a corporation controlled by Robert McEwen, which committed to subscribe for 3.75 million units, about 50 per cent [of] the increased offering,” stated Robert T. Boyd, president and chief executive officer.

We seek Safe Harbor.

https://endurancegold.com/