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Enduro Metals Corporation announce that it has entered into a non-binding indicative term sheet with a leading international mining company for a 9.9% investment into the Company at a price of C$0.14 per share (the “Private Placement”).
If the Private Placement is completed, the proceeds are expected to be used to fund the balance of the Company’s 2023 drill program on its Newmont Lake property as well as for general corporate purposes. The Company is working diligently with the potential investor to negotiate the terms of the transaction documents, and currently expects to complete the Private Placement by the end of August 2023.
Should the Private Placement be completed as currently contemplated, the Company will not proceed with the private placement it previously announced on June 22nd, 2023.
Completion of the Private Placement is subject to all requisite approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a statutory hold period expiring four months and a day from the date of distribution.
For more information, please visit the website at: https://www.endurometals.com.
About Enduro Metals
Enduro Metals is an exploration company focused on its flagship Newmont Lake Project; a total 688km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle. Building on prior results, the Company’s geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy & 72 Zones, encouraging porphyry-style alteration typical of alkalic copper-gold porphyry systems at North Toe, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORP.
“Cole Evans”
Chief Executive Officer
For further information please contact:
Ali Wasiliew – Manager of Communications
Tel: + (236) 420-4050
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
Email: [email protected]
