- Enduro Metals Corporation (ENDR) has announced a non-brokered private placement offering for gross proceeds of $10,840,000
- The placement includes an investment from a leading mining financial institution totalling $8,760,000
- The offering consists of two parts: up to 24,000,000 flow-through (FT) common shares at a price of $0.365 per share and up to 8,000,000 common shares at a price of $0.26 per share
- Enduro intends to use the proceeds of the offering for the exploration of its key projects
- Enduro Metals is an exploration company focused on its flagship Newmont Lake Project
- Shares of Enduro Metals (ENDR) fell by 7.143 per cent, trading at $0.26 at 2:55 PM ET
Enduro Metals Corporation (ENDR) has announced a non-brokered private placement offering for gross proceeds of $10,840,000.
The placement includes an investment from a leading mining financial institution totalling $8,760,000.
The offering will consist of up to 24,000,000 flow-through (FT) common shares at a price of $0.365 per share and up to 8,000,000 common shares at a price of $0.26 per share.
It is expected the new institutional investor will be the end purchaser of all FT shares. The institutional investor will hold approximately 9.9 per cent of the company’s common shares on a non-diluted basis.
The company intends to use the proceeds for the exploration of the company’s key projects located in the Golden Triangle and for general working capital purposes.
The offering is scheduled to close on or around May 19, 2022, and is subject to the approval of the TSXV.
All securities issued will be subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval.
Enduro Metals is an exploration company focused on its flagship Newmont Lake Project; a total 654km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia’s Golden Triangle.
Share price of Enduro Metals (ENDR) fell by 7.143 per cent, trading at $0.26 at 2:55 PM ET.