May 31, 2018
Endurance Closes Sale of 2 Million Inventus Shares
|Endurance Gold Corporation (EDG - TSX.V, "Endurance" or "Company") announces that further to its news release dated May 15, 2018, it has sold 2 million Inventus shares at a price of $0.18 per share to two directors of the Company (the "Transaction").|
The Transaction is a non-arm's length transaction and constitutes a related party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. As the fair market value of the Transaction is less than 25% of the Company's market capitalization, the Company has relied on section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirements.
The Transaction has been accepted by the TSX Venture Exchange.
The Company is also pleased to announce that all outstanding warrants issued pursuant to a private placement closed on May 29, 2015 have been exercised. These generated an additional $340,000 to fund the Company's 2018 operations and exploration activities.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, email@example.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.
View News Release in PDF Format:
You can view the Next News Releases item: Thu Aug 2, 2018, Endurance Commences Exploration At The Elephant Mountain Gold Project, Alaska
You can view the Previous News Releases item: Tue May 15, 2018, Endurance Announces Intention To Sell 2 Million Inventus Shares
You can return to the main News Releases page, or press the Back button on your browser.