Engineer Gold Closes Non-Brokered Private Placement Raising Gross Proceeds of $500,000.
ENGINEER GOLD MINES LTD.
Suite 804 - 750 West Pender Street
Vancouver, B.C. V6C 2T7
Telephone: 604.682.2928
Fax: 604.685.6905
www.engineergoldmines.com
Engineer Gold Closes Non-Brokered Private Placement
Raising Gross Proceeds of $500,000.
July 24, 2020
Vancouver, BC – Engineer Gold Mines Ltd. (the “Company”) (TSXV: EAU) announces it has
closed a non- brokered private placement announced July 13 , 2020 raising gross proceeds of
$500,000. 8,333,333 units (“Unit”) have been issued at a price of $0.06 per each Unit. Each Unit
is comprised of one common share and one -half of one share purchase warrant (“Warrant”).
Each whole Warrant is exercisable to p urchase one common share of the Company at a price of
$0.12 per share for a period of 30 months from closing of the financing expiring January 24,
2023.
All securities are subject to a four month hold period. Finder’s fees payable in connection with
the private placement total $37,360 and 622,667 finder’s units. Finder’s units are exercisable at
a price of $0.09, expiring January 24, 2023, into one common share and one -half of one share
purchase warrant (“Finder Warrant”). Each whole Finder’s Warrant is exercisable to purchase
one common share of the Company at a price of $0.15 per share expiring January 24, 2023, all in
accordance with the policies of the TSX Venture Exchange.
The proceeds will be used for the exploration program at the Engineer Gold Mi ne Property, 32
km west of Atlin in northern BC, and general working capital.
About Engineer Gold Mines Ltd.
Engineer Gold is focused on the exploration and development of the 100% -owned, 14,020 ha
Engineer Gold Mine Property, centered on the Historic high -grade Engineer Gold Mine situated
32 km southwest of Atlin, B.C. Previous work has identified numerous high- grade vein and
shear-hosted bulk-tonnage gold exploration targets including Wann River to the southwest and
Happy Sullivan to the northeast of the Engineer Gold Mine.
For additional information please visit the company website at www.engineergoldmines.com
On Behalf of the Board of Directors Contact Information
Engineer Gold Mines Ltd. Corporate Inquiries:
"Andrew H. Rees" Andrew H. Rees: 604-505-3739
Mr. Andrew H. Rees Email: [email protected]
President
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Cautionary Note Regarding Forward-Looking Statements
Neither 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.
This news release contains certain forward looking statements which involve known and unknown risks,
delays, and uncertaint ies not under the control of Engineer Gold Mines Ltd. which may cause actual
results, performance or achievements of Engineer Gold Mines Ltd. to be materially different from the
results, performance or expectation implied by these forward looking statements. By their nature, forward
looking statements involve risk and uncertainties because they relate to events and depend on factors that
will or may occur in the future. Actual results may vary depending upon exploration activities, industry
production, commodity demand and pricing, currency exchange rates, and, but not limited to, general
economic factors. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts respon sibility for the adequacy or accuracy
of this release.