EnGold Increases Non Flow-Through Private Placement by $50,000
VANCOUVER, BC / ACCESSWIRE / October 5, 2016 / David H. Brett, President & CEO, Engold Mines Ltd., (TSXV: EGM) ("EnGold" and the "Company") reports that the Company has increased the amount of the previously announced $640,000 non-brokered private placement by 1,000,000 non flow-through ("NFT") units priced at $0.05 per NFT to a total of 4,000,000 NFT units for expected gross NFT proceeds of $200,000, subject to the approval of the TSX Venture Exchange. Each NFT consists of one common share and one warrant to purchase one additional NFT share at $0.08 for a period of two years. The expected flow-through ("FT") proceeds of $490,000 from the sale of 7,000,000 FT units at $0.07 remains unchanged. Closing of a first tranche of the Financing for proceeds totaling $290,000 was announced September 1, 2016. The proceeds of the offering will be used to fund ongoing exploration work at the Company's 100% owned Lac La Hache Property in the Cariboo region of BC, and for general working capital purposes.
Per/
David Brett, MBA
President & CEO
For further info contact David Brett, 604-682-2421 or david@engold.ca.
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SOURCE: Engold Mines Ltd.