May 29, 2015 Endurance Gold Closes Private Placement of $340,000 and Announces Results of Annual General Meeting
Endurance Gold Corporation (EDG -- TSX.V, "Endurance", or the "Company") is pleased to announce that it has closed the non-brokered private placement announced on April 7, 2015 (the "Offering") of 6,800,000 units (the "Unit"), at a price of $0.05 per Unit, for gross proceeds of $340,000.
Each Unit is comprised of one common share and one non-transferable common share purchase warrant (the "Warrant"). Each Warrant is exercisable into one common share at a price of $0.05 per share for a period of three years from the date of closing (the "Closing"). The Warrants are subject to an accelerated expiry date which comes into effect when the volume weighted average trading price of the common shares of the Company closes at or above $0.10 per share for twenty consecutive trading days in the period commencing four months after the Closing. In the event that the Company gives an expiry acceleration notice (the "Notice") to holder of the Warrants, the expiry date of the Warrants will be 30 days from the date of the Notice. The Offering is fully subscribed by directors, an officer, and a company controlled by a director of the Company.
As previously disclosed, the net proceeds from the Offering will be used to fund the Company's exploration activities and for general working capital. No commissions or finders' fees were paid in connection with this Offering.
The Offering is subject to final regulatory acceptance. All securities issued pursuant to this Offering will be subject to a hold period which expires on September 30, 2015.
Endurance is also pleased to announce that 60.74% of shareholders attended by proxy at today's Annual General Meeting with no less than 99.76% of shareholders voting in favour of all resolutions and directors.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
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.
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