Endurance Announces Private Placement of $300,000admin
Endurance Announces Private Placement of $300,000
Vancouver, British Columbia CANADA, February 18, 2014 /FSC/ – Endurance Gold Corporation (EDG – TSX.V, “Endurance”), is pleased to announce that it intends to complete a non-brokered private placement of up to 4,285,714 units (the “Unit”) at a price of $0.07 per Unit for gross proceeds of up to $300,000 (the “Offering”). Each Unit consists of one common share and one non-transferable common share purchase warrant (the “Warrant”). Each such Warrant is exercisable into one common share at a price of $0.10 per share for a period of five years from the date of closing (the “Closing”). The Warrants are subject to an accelerated expiry date which comes into effect when the trading price of the common shares of the Company closes at or above $0.30 per share for twenty consecutive trading days in the period commencing four months after the Closing. In the event that the Company gives an expiry acceleration notice (the “Notice”) to holder of the warrants, the expiry date of the Warrants will be 30 days from the date of the Notice.
The gross proceeds from the Offering will be used to fund the Company’s exploration activities and for general working capital.
The Offering is subject to regulatory acceptance. The securities issued in the financing will be subject to a statutory hold period of four months plus one day from the Closing.
Certain directors and/or officers of the Company intend to participate in the private placement and their holdings of securities of the Company will increase as a result.
Cash Finders’ fees in the amount of 6.0% may be paid in connection with certain subscriptions under the private placement.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, firstname.lastname@example.org
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
ENDURANCE GOLD CORPORATION
#1700, 750 West Pender Street
Vancouver, B.C. V6C 2T8
Tel: (604) 682-2707 Fax: (604) 681-0902
NEWS RELEASE 14-02
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Source: Endurance Gold Corporation – (TSXV: EDG)
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Posted: February 18th, 2014 under FSCWIRE.