Vancouver, British Columbia–(Newsfile Corp. – June 22, 2020) – David H. Brett, President & CEO, EnGold Mines Ltd. (TSXV: EGM) “EnGold” or the “Company”), reports that the Company has closed the first tranche of the non-brokered private placement announced June 12th, 2020, and issued 1,900,000 units at $0.04 per unit for gross proceeds of $76,000. The units consist of one common share and one warrant, whereby warrant entitles the holder to purchase one common share at a price of $0.07 per share for a period of two years.
The Company paid a 7% finders’ fee in connection with part of the financing consisting of 7% cash and 7% finders’ share purchase warrants entitling the holders to purchase one share at a price of $0.04 for 2 years. All of the securities are subject to a hold period which will expire on October 23rd, 2020. The Company will continue with the offering as previously disclosed.
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.
President & CEO
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