EnGold Closes Second Tranche of Flow-Through Financing
Vancouver, September 24, 2019 - David H. Brett, President & CEO, Engold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports that the Company has closed a second 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 750,000 flow-through shares at $0.11 per share for gross proceeds of $82,500 (the "Shares"), which is in addition to the first tranche closed July 3rd, 2019 whereby 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 Shares are subject to a 4 month hold and will not be tradable before January 25, 2020. 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 the second tranche consisting of 10% cash and issued 65,000 share purchase warrants exercisable for two years at $0.12 per share.
Management anticipates that a final tranche of the flow-through share offering will close prior to October 3rd, 2019.
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.
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.
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