VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 14, 2016) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Energold Drilling Corp. (TSX VENTURE:EGD) ("Energold" or the "Company") is pleased to announce that it has filed and obtained
a receipt for a preliminary short form prospectus in connection with a marketed "best efforts" public offering of units (each, a
"Unit") at a price of $1.00 per Unit for aggregate gross proceeds of up to $5,000,000 (the "Offering"). Each Unit will consist of
one common share of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant") to acquire an
additional Common Share at a price of $1.75 for a period of 18 months from the date of the closing of the Offering. The Offering
will be conducted through a syndicate of agents led by Clarus Securities Inc. and including M Partners Inc. (together, the
"Agents").
In connection with the Offering, the Company has granted the Agents the option, exercisable in whole or in part at any time
and from time to time until the date that is 30 days from the date of the closing of the Offering, to sell up to an additional
15% of the Units sold under the Offering on the same terms as the Units sold under the Offering.
The Units will be offered in the provinces of British Columbia, Alberta and Ontario. A copy of the preliminary short form
prospectus is available on the Company's profile on SEDAR at www.sedar.com.
The Offering is expected to close the week of June 27, 2016 and is subject to certain customary conditions and regulatory
approvals and the entering into by the Company and the Agents of an agency agreement. The Company has applied to list the Common
Shares, including the Common Shares issuable upon exercise of the Warrants, on the TSX Venture Exchange (the "TSXV"). Listing
will be subject to the Company fulfilling all of the listing requirements of the TSXV.
The Company intends to use the proceeds of the Offering to fund working capital.
About Energold
Energold is a leading global specialty drilling company that services the mining, energy, water, infrastructure and
manufacturing sectors in approximately 25 countries. Specializing in a socially and environmentally sensitive approach to
drilling, Energold provides a comprehensive range of drilling services from early stage exploration to mine site operations for
all commodity sectors and has an established drill rig manufacturer, Dando Drilling International, based in the United Kingdom.
Energold also holds 7.98 million shares of IMPACT Silver Corp., a silver producer in Mexico.
This press release does not constitute an offer of the securities of the Company for sale in the "United States" or to
"U.S. persons" (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended (the "1933
Act"). The securities of the Company have not been registered under the 1933 Act and may not be offered or sold within the United
States or to U.S. persons absent registration or an exemption from registration under the 1933 Act. This press 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 state in
which such offer, solicitation or sale would be unlawful.
Cautionary Statements
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 release.
Forward-Looking Statements: Some statements in this news release contain forward-looking information. These statements
include, but are not limited to, the terms of the Offering, the successful completion of the Offering, the Company's anticipated
use of proceeds and the expected timing for closing of the Offering. These statements address future events and conditions and,
as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements to be materially different from any future results, performance or achievements expressed or implied by the
statements. Such factors include, among others, failure to obtain TSX Venture Exchange approval of the Offering, the effects of
general economic conditions, a reduction in the demand for the Company's drilling services, the price of commodities, changing
foreign exchange rates, actions by government authorities, the failure to find economically viable acquisition targets, title
matters, environmental matters, reliance on key personnel, the ability for operational and other reasons to complete proposed
activities and work programs, the need for additional financing and the timing and amount of expenditures. No assurance can be
given that the Offering will be completed as described, or at all. Accordingly, readers should not place undue reliance on any
forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak
only as of the date on which they are made and Energold undertakes no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events, or otherwise.