EnGold Closes $2 Million Financing
Vancouver, British Columbia (Newsfile Corp. - April 12, 2017) - David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) ('EnGold') reports that EnGold has closed a non-brokered private placement of 4,000,000 flow-through ('FT') units at $0.50 per unit (the 'Units') for gross proceeds of $2,000,000. The Units consist of one FT share and one warrant to purchase one non-FT common share at a price of $0.60 for a period of two years. One insider of EnGold participated in the private placement. All securities issued through the private placement are subject to a four month hold period expiring August 12, 2017. The proceeds of the financing will be used to fund ongoing exploration at EnGold's 100% owned Lac La Hache Property in the Cariboo region of BC, where drilling is expected to resume next week.
'Interest in this financing was strong and the offering was significantly oversubscribed,' said EnGold President & CEO David Brett. 'We are looking forward to recommencing our drill program at Lac La Hache next week.'
A 7% cash finder's totaling $140,000 was paid and 280,000 (7%) finder's warrants were issued granting the holder to purchase one non-FT share at $0.60 per share for a period of two years.
Engold Mines Ltd.Per/
David Brett, MBAPresident & CEOwww.engold.ca
For further info contact David Brett, 604-682-2421 or email@example.com
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12.04.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: Engold Mines Ltd.
Canada ISIN: CA29330R1001 End of News DGAP News Service