Erdene Announces Financing to Fund Exploration and Pre-Construction IN the Khundii GOLD District
TSX: ERD | MSE: ERDN
www.erdene.com [email protected]
ERDENE ANNOUNCES FINANCING TO FUND EXPLORATION AND
PRE-CONSTRUCTION IN THE KHUNDII GOLD DISTRICT
Press Release
Halifax, Nova Scotia
2022.06.28
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 20,000,000 units of the Company (the “Units”) at a price of $0.30
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 $0.45.
Proceeds of the Priva te Placement will be used to fund exploration, including follow up
drilling at the recent Ulaan and Dark Horse discoveries, site establishment work for the
Company’s Bayan Khundii Gold Project development, and for general working capital
purposes.
The Private Placement is expected to close on or about J uly 22, 2022 and is subject to
the Company receiving all necessary regulatory approvals, including approval of the
Toronto Stock Exchange. Securities issue d 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 Khun dii Gold District. Erdene
Resource Development Corp. is listed on the Toronto and the Mongolian stock exchanges.
Further information 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
TSX: ERD | MSE: ERDN
www.erdene.com [email protected]
expectations reflected in such forward-looking statements are reasonable, it can give no
assurance that such expectations will prove to have been correct. 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 ma y 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 ex ploration results, continued availability o f capital and
financing and general economic, market or 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 assume 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