EnGold Closes $290,000 First Tranche of Private Placement Offering
VANCOUVER, BC / ACCESSWIRE / September 1, 2016 / David H. Brett, President & CEO, Engold Mines Ltd., (TSXV: EGM) (the "Company," www.engold.ca) reports that EnGold has closed a first tranche of a non-brokered private placement previously announced on July 29, 2016 (the "Offering"). The closing consisted of the issuance of a total of 2,860,000 Flow Through units (the "FT Units") at a price of $0.07 per FT Unit for gross proceeds of $200,200 and 1,496,000 non Flow Through units (the "NFT Units") at a price of $0.05 per NFT Unit. Each FT Unit consists of one flow-through common share and one warrant ("Warrant") with each Warrant entitling the holder to acquire one non-flow through common share at a price of $0.10 per share until August 31, 2018. Each NFT Unit consists of one common share and one warrant ("Unit Warrant") with each Unit Warrant entitling the holder to acquire one non-flow through common share at a price of $0.08 per share until August 31, 2018. Proceeds of the first tranche of the Offering will be used for exploration of the Company's 100% owned Lac La Hache Property in central British Columbia and for general working capital purposes.
In connection with the Offering, the Company paid cash finder's fees of $19,250 and issued 304,920 finder's warrants entitling the holder to purchase one common share at $0.08 per share for two years ending August 31, 2018.
Per/
David Brett, MBA
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.
SOURCE: Engold Mines Ltd.
