Erdene Announces Financing to Fund Exploration and Development IN the Khundii GOLD District
TSX: ERD | MSE: ERDN
www.erdene.com [email protected]
ERDENE ANNOUNCES FINANCING TO FUND EXPLORATION AND
DEVELOPMENT IN THE KHUNDII GOLD DISTRICT
Press Release
Halifax, Nova Scotia
2022.12.14
Erdene Resource Development Corporation (TSX:ERD | MSE:ERDN) (“Erdene” or
the “Company”) is pleased to announce that it intends to issue, by way of a non-brokered
private placement, up to 22,222,222 units of the Company (the “Units”) at a price of $0.27
per Unit (the “Private Placement”), for gross proceeds of up to $6,000,000. Each Unit will
consist of one common share and one -half (½) of one common share purchase warrant
(each whole warrant, a “Warrant”). Warrants are exercisable by the holder into one
common share of the Company within two years of the closing date, at a price of $0.40.
Proceeds of the Private Placement will be used to fund exploration, early development
works for the Company’s Bayan Khundii Gold Project , and for general working capital
purposes.
The Private Placement is expected to close on or about December 23, 2022 and is subject
to the Company receiving all necessary regulatory approvals, including approval of the
Toronto Stock Exchange. Securities issued under the Private Placement will be subject
to a four month hold period which will expire four months plus one day from the closing
date of the Private Placement.
About Erdene
Erdene Resource Development Corp. is a Canada-based resource company focused on
the acquisition, exploration, and development of precious and base metals in
underexplored and highly prospective Mongolia. The Company has interests in three
mining licenses a nd an exploration license in Southwest Mongolia, where exploration
success has led to the discovery and definition of the Khundii Gold District. Erdene
Resource Development Corp. is listed on the Toronto and the Mongolian stock exchanges.
Further informati on is available at www.erdene.com. Important information may be
disseminated exclusively via the website; investors should consult the site to access this
information.
Forward-Looking Statements
Certain information regarding Erdene contained herein may constitute forward -looking
statements within the meaning of applicable securities laws. Forward-looking statements
may include estimates, plans, expectations, opinions, forecasts, projections, guidance or
other statements that are not statements of fact. Although Erdene believes that the
expectations reflected in such forward-looking statements are reasonable, it can give no
TSX: ERD | MSE: ERDN
www.erdene.com [email protected]
assurance that such expectations will prove to have been correc t. Erdene cautions that
actual performance will be affected by a number of factors, most of which are beyond its
control, and that future events and results may vary substantially from what Erdene
currently foresees. Factors that could cause actual results to differ materially from those
in forward-looking statements include the ability to obtain required third party approvals,
market prices, exploitation and exploration results, continued availability of capital and
financing and general economic, market o r business conditions. The forward -looking
statements are expressly qualified in their entirety by this cautionary statement. The
information contained herein is stated as of the current date and is subject to change after
that date. The Company does not a ssume the obligation to revise or update these
forward-looking statements, except as may be required under applicable securities laws.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE
CONTENTS OF THIS RELEASE
Erdene Contact Information
Peter C. Akerley, President and CEO, or
Robert Jenkins, CFO
Phone: (902) 423-6419
Email: [email protected]
Twitter: https://twitter.com/ErdeneRes
Facebook: https://www.facebook.com/ErdeneResource
LinkedIn: https://www.linkedin.com/company/erdene-resource-development-corp-/
YouTube: https://www.youtube.com/channel/UCILs5s9j3SLmya9vo2-KXoA