- EnGold Mines Ltd. (EGM) has arranged an $8 million non-brokered private placement
- The financing is subject to a consolidation of capital on a 10 for 1 basis
- EnGold has 256,465,446 common shares outstanding. Post-consolidation, the company will have approximately 25,646,544 shares outstanding
- Proceeds from the financing will be used to explore EnGold’s Lac La Hache Copper-Gold Project
- EnGold is a Vancouver-based copper, gold, silver, magnetite exploration company
- EnGold Mines Ltd. (EGM) is down 18.18 per cent, trading at C$0.045 per share at 12 pm ET
EnGold Mines (EGM) has arranged an $8 million non-brokered private placement of flow-through units.
The financing is subject to a consolidation of capital on a 10 for 1 basis. EnGold has 256,465,446 common shares issued and outstanding. Upon completion of the consolidation, the company is expected to have approximately 25,646,544 common shares outstanding.
On a post-consolidation basis, the company will issue 16,000,000 units at a price of $0.50 per unit. Each unit will consist of one flow-through share and one-half of one warrant. Each whole warrant will entitle the holder to purchase one common share at a price of $0.75 for a period of two years.
Proceeds from the financing will be used to explore EnGold’s Lac La Hache Copper-Gold Project in the Cariboo region of BC.
The financing and share consolidation are subject to shareholder and TSX Venture Exchange approval.
EnGold is a Vancouver-based copper, gold, silver, magnetite exploration company focused solely on its 100% owned Lac La Hache property in the Cariboo region of BC.
EnGold Mines Ltd. (EGM) is down 18.18 per cent, trading at C$0.045 per share at 12 pm ET.
