Enduro Metals Announces Private Placement Offering
Enduro Metals Announces Private Placement
Offering
Kelowna, British Columbia--(Newsfile Corp. - June 22, 2023) -
Enduro Metals Corporation
(TSXV:
ENDR) (OTCQB: ENDMF) (FSE: SOG)
("
Enduro Metals
" or the "
Company
") announces that it
intends to complete a non-brokered private placement of up to 37,500,000 units (the "
Units
") at a price
of CDN$0.08 per Unit for aggregate gross proceeds of up to CDN$3,000,000 (the "
Offering
"). Each
Unit will consist of one common share in the capital of the Company (a "
Common Share
") and one-half
of one Common Share purchase warrant (each whole Common Share purchase warrant, a "
Warrant
").
Each Warrant will entitle the holder thereof to acquire an additional Common Share at a price of
CDN$0.12/share for a period of 24 months from the date of Issuance.
It is expected that the proceeds from the sale of Units will be used to fund continued exploration activities
on the Company's Newmont Lake Project located in Northwest British Columbia and for general and
administrative expenses.
The Company may pay a commission or finder's fee to eligible parties in connection with the Offering, in
compliance with the policies of the TSXV Venture Exchange (the "
Exchange
").
Completion of the Offering is subject to final approval of the Exchange.
All securities issued pursuant to
the Offering will be subject to a statutory hold period expiring four months and a day from the date of
issue.
About Enduro Metals
Enduro Metals is an exploration company focused on it's flagship Newmont Lake Project; a total 688km
2
property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British
Columbia's Golden Triangle. Building on prior results, the Company's geological team have outlined 4
deposit environments of interest across the Newmont Lake Project including high-grade
epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at
Burgundy & 72 Zones, encouraging porphyry-style alteration typical of alkalic copper-gold porphyry
systems at North Toe, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper,
zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.
On Behalf of the Board of Directors,
ENDURO METALS CORPORATION
"
Cole Evans
"
Chief Executive Officer
For further information please contact:
Ali Wasiliew - Manager of Communications
Tel: + (236) 420-4050
Email:
Sean Kingsley - Director of Communications
Tel: +1 (604) 440-8474
Email:
https://www.endurometals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements".
Such forward-
looking statements involve known and unknown risks, uncertainties and other factors that may cause
Enduro's actual results, performance or achievements, or developments in the industry to differ materially
from the anticipated results, performance or achievements expressed or implied by such forward-looking
statements. Forward-looking statements are statements that are not historical facts and are generally,
but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends,"
"estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would,"
"may," "could" or "should" occur. Forward-looking statements in this news release include statements
concerning the Company's expectation that it will complete the Private Placement on the terms proposed
or at all, the expected use of proceeds of the Private Placement, the payment of finder's fees and all
other statements that are not historical in nature.
Although Enduro believes the forward-looking information contained in this news release is reasonable
based on information available on the date hereof, by their nature forward-looking statements involve
assumptions, known and unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or other future events, to be materially different from any future
results, performance or achievements expressed or implied by such forward-looking statements.
The forward-looking information contained in this news release represents the expectations of the
company as of the date of this news release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward-looking information and should not rely upon this
information as of any other date. While the company may elect to, it does not undertake to update this
information at any particular time except as required in accordance with applicable laws.
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DISSEMINATION IN THE UNITED STATES
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