Engineer Gold Mines (EAU-V) Closes Non-brokered PP Raising Gross Proceeds of $800k
July 16, '20 - NR
Engineer Gold Mines Ltd. has closed a non-brokered private placement announced June 19, 2020, raising gross proceeds of $800,000. 13,333,333 units ("Unit") have been issued at a price of $0.06 per each Unit. Each Unit is comprised of one common share and one-half of one share purchase warrant ("Warrant"). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.12 per share for a period of 30 months from closing of the financing expiring January 16, 2023.
All securities are subject to a four month hold period. Finder's fees payable in connection with the private placement total $43,600 and 726,667 finder's units. Finder's units are exercisable at a price of $0.09, expiring January 16, 2023, into one common share and one-half of one share purchase warrant ("Finder Warrant"). Each whole Finder's Warrant is exercisable to purchase one common share of the Company at a price of $0.15 per share expiring January 16, 2023, all in accordance with the policies of the TSX Venture Exchange.
The proceeds will be used for the exploration program at the Engineer Gold Mine Property, 32 km west of Atlin in northern BC, and general working capital.
About Engineer Gold Mines Ltd.
Engineer Gold is focused on the exploration and development of the 100%-owned, 14,020 ha Engineer Gold Mine Property, centered on the Historic high-grade Engineer Gold Mine situated 32 km southwest of Atlin, B.C. Previous work has identified numerous high-grade vein and shear-hosted bulk-tonnage gold exploration targets including Wann River to the southwest and Happy Sullivan to the northeast of the Engineer Gold Mine.
For additional information please visit the company website at www.engineergoldmines.com
On Behalf of the Board of Directors
Contact Information Engineer Gold Mines Ltd.
Corporate Inquiries:
"Andrew H. Rees"
604-505-3739
Email: andrewhr@engineergoldmines.com |
