EnGold Private Placement Closing Extended
Vancouver, British Columbia--(Newsfile Corp. - September 29, 2016) - David H. Brett, President & CEO, Engold Mines Ltd., (TSXV: EGM) ("EnGold" and the "Company") reports that the Company has applied to and has received the approval of, the TSX Venture Exchange for a 30-day extension to complete the non-brokered private placement financing announced on July 29, 2016, for gross proceeds of $640,000, extending the financing period to October 12th, 2016 (the "Financing"). The Financing consists of a non-brokered private placement offering (the "Offering") consisting of 7,000,000 flow-through ("FT") units at $0.07 per FT unit and 3,000,000 non flow-through units at $0.05 per non FT unit for expected gross proceeds of $640,000. The FT units will consist of one FT share and one warrant to purchase one non FT common share at $0.10 for a period of two years. The non FT units will consist of one common share and one warrant to purchase one non FT common share at $0.08 for a period of two years. Closing of a first tranche of the Financing for proceeds totaling $290,000 was announced September 1, 2016.
Closing of the financing is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The securities issuable in connection with the financing will be subject to resale restrictions for a period of four months plus one day from the closing date.
Engold Mines Ltd.
Per/
David Brett, MBA
President & CEO
For further info contact David Brett, 604-682-2421 or david@engold.ca
This news release may contain "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance and that actual development or results may vary materially from those in these "forward looking statements."
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 release.