Endurance Gold Corporation report that it has closed the non-brokered private placement (the “FINANCING“) announced by news release on May 14, 2024.
The Company has received gross proceeds of $4,000,000 through the sale of 20,000,000 units (each, a “UNIT“) at a price of $0.20 per Unit. Each Unit is comprised of one common share (each, a “Share“) and one-half non-transferable common share purchase warrant (each, a “Warrant“). Each Warrant shall entitle the holder to purchase one additional Share of the Company at an exercise price of $0.32 per Share until May 29, 2026. The gross proceeds from the sale of the Units will be used to fund the Company’s exploration activities and for general corporate purposes.
All securities issued in connection with the Closing of the Financing are subject to a statutory hold period expiring four months plus one day from the Closing. No finder’s fees were paid in connection with this Financing. The Closing of the Financing remains subject to the final approval by the TSX Venture Exchange.
Mr. Gilliam, a control person and an insider of the Company, has subscribed for the entire 20,000,000 Units of the Financing. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would require registration or otherwise be unlawful. The securities have not been or will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 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.
NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES
