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News Releases

 

September 14, 2009
Endurance Closes Private Placement For Gross Proceeds Of $600,000


Endurance Gold Corporation (EDG -- TSX.V) announces that, pursuant to News Releases dated August 04, 2009 and September 04, 2009, it has closed a non-brokered private placement of three million non-flow through units (the "NFT Units") and one million flow through shares (the "FT Shares"), for gross proceeds of $600,000.

Each NFT Unit, priced at $0.15, consists of one common share and one half non-transferable common share purchase warrant (the "Warrant"), each whole Warrant entitling the holder to acquire one common share for a period of two years, exercisable at a price of $0.30. The Warrant will be subject to earlier expiry if the EDG share closing price is above $0.50 for 20 consecutive trading days, any time after the expiry of the "hold" period.

The 1.0 Million FT Shares were priced at $0.15, and placed with the MineralFields Group.

Commissions of $31,500 in cash and 240,000 Broker Warrants have been paid in connection with the financing. The Broker Warrants are exercisable on the same terms as the warrant described above.

The majority of proceeds of the NFT Units portion of the financing will be used to advance the Company's 100% owned Natrona Gold Properties, located in the Rattlesnake Hills of Wyoming, and for general working capital. The flow through portion of the financing will be used to advance the Company's Canadian property portfolio, including the Nechako Property in British Columbia, and the Turner, Hutton and Parkin properties in Ontario.

The private placement is subject to final regulatory acceptance. The securities issued in the financing will be subject to a hold period of four months plus one day from today's date.

ENDURANCE GOLD CORPORATION
/s/ Duncan McIvor
Per:
President and Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
Duncan McIvor; (604) 682-2707,
www.endurancegold.com
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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
 
 

You can view the Next News Releases item: Tue Oct 6, 2009, Exploration Update on Rattlesnake Hills, Wyoming and Drilling to Commence at Nechako, B.C.

You can view the Previous News Releases item: Fri Sep 4, 2009, Endurance Amends Private Placement

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