EnGold Closes $320,000 First Tranche of Flow-Through Financing
Vancouver, July 2, 2019 - David H. Brett, President & CEO, Engold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports that the Company has closed the first tranche of the $500,000 non-brokered private placement of up to 4,545,455 flow-through shares that was announced June 24th, 2019. The Company has issued to a single institutional investor 2,909,091 flow-through shares at $0.11 per share for gross proceeds of $320,000. The Units are subject to a 4 month hold and will not be tradable before November 3rd, 2019. The funds will be used for ongoing exploration of EnGold's 100% owned copper, gold, silver, magnetite Lac La Hache property in the Cariboo region of BC.
The Company paid finder's fees in connection with this tranche to two finders consisting of 10% cash and issued 290,909 share purchase warrants exercisable for two years at $0.12 per share.
Management anticipates that a second tranche of the flow-through share offering may close later this month.
About EnGold
EnGold is a Vancouver-based copper/gold exploration company focused solely on its 100% owned Lac La Hache property in the Cariboo region of BC. The Spout Deposit, the Aurizon Gold Deposit and the 2017 G1 Copper Discovery, located within a 7-kilometer area on the property. With world class infrastructure at its doorstep, Lac La Hache is a great location to be exploring. EnGold's corporate philosophy rests on three interdependent pillars: Environment, Engagement and Gold. Through sound environmental stewardship, commitment to transparent engagement with local communities, the Company is dedicated to driving exceptional shareholder and stakeholder value by fulfilling its vision to profitably supply valuable and much needed metals to the global marketplace.
Engold Mines Ltd.
David Brett
President & CEO
For further info contact David Brett, 604-682-2421 or david@engold.ca
This news release may contain "forward‐looking statements". Readers are cautioned that any such statements are not guarantees of future performance and that actual development or results may vary materially from those in these "forward looking 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46036