EnGold Arranges $480,000 Non-Brokered Private Placement
40372698.2
EnGold Arranges $480,000 Non-Brokered Private Placement
For Immediate Release. June 12, 2020. Vancouver, BC. David H. Brett, President & CEO,
EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that the Company has
arranged a non-brokered private placement of up to 12,000,000 common share units at a price
of $0.04 per unit (the “Units”) for gross proceeds of up to $480,000, subject to the acceptance of
the TSX Venture Exchange. The Units will consist of one common share and one warrant,
whereby each warrant will entitle the holder to purchase one common share at a price of $0.07
per share for a period of two years. Proceeds of the sale of the Units will be used for exploration
of the Company’s 100% owned Lac La Hache Property in the Cariboo region of BC, litigation
expenses related to the appeal of the Irvin Eisler wrongful dismissal case, and general working
capital purposes. A 7% finders’ fee consisting of cash and share purchase warrants will be
payable in connection with the financing.
The Company plans to rely on the new “existing security holder exemption” described in
Multilateral CSA Notice 45-313 - Prospectus Exemption for Distributions to Existing Security
Holders (published March 13, 2014) or analogous exemption for shareholders of record as of
June 12th,2020, as well as other exemptions.
About EnGold
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 which hosts the
Spout Copper Deposit, the Aurizon Gold Deposit and the G1 Copper Discovery and other
targets within a large porphyry mineralizing system. With world class infrastructure at its
doorstep, Lac La Hache is a great location to be exploring.
EnGold Mines Ltd.
David Brett
President & CEO
For further info contact David Brett, 604-682-2421 or [email protected]
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.