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Endurance Announces Re-Pricing and Increase of Private Placement to $650,000

V.EDG

Endurance Announces Re-Pricing and Increase of Private Placement to $650,000

Not for distribution or dissemination in the United States



Vancouver, British Columbia (FSCwire) - Endurance Gold Corporation (EDG – TSX.V, “Endurance”) announces that it plans to re-price and increase the size of the non-brokered private placement previously announced for 5,882,400 units (the “Unit”) at a price of $0.085 per Unit for gross proceeds of up to $500,000 on September 10, 2014. 

 

The Company will now conduct a non-brokered private placement (the “Offering”) of up to 10,833,400 Units at a price of $0.06 per Unit for gross proceeds of $650,000.  Each Unit will consist of one common share and one non-transferable common share purchase warrant (the “Warrant”).  Each such Warrant is exercisable into one common share for a period of three years from the date of closing (the “Closing”).  The Warrant exercise price is $0.10 per share for the initial eighteen month period, increasing to $0.12 per share for the second eighteen month period. 

 

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 $0.18 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 7.0% may be paid in connection with certain subscriptions under the private placement.

 

ENDURANCE GOLD CORPORATION

 

                Robert T. Boyd

Per:                                                                                        

                President & CEO

 

FOR FURTHER INFORMATION, PLEASE CONTACT

Endurance Gold Corporation

(604) 682-2707, info@endurancegold.com

www.endurancegold.com

 

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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EnduranceGoldOct162014.pdf

Source: Endurance Gold Corporation (TSX Venture:EDG) http://www.endurancegold.com

 

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