Mr. David Brett reports
ENGOLD CLOSES SECOND TRANCHE OF FINANCING
Engold Mines Ltd. has closed a second tranche of the non-brokered private placement announced June 12, 2020, and issued 1.2 million units at four cents per unit for gross proceeds of $48,000. The units consist of one common share and one warrant, whereby each warrant entitles the holder to purchase one common share at a price of seven cents per share for a period of two years.
The company paid a finder's fee of 7 per cent in connection with part of the financing consisting of 7 per cent in cash and 7 per cent in finders' share purchase warrants, each entitling the holders to purchase one share at a price of four cents for two years. All of the securities are subject to a hold period that will expire on Nov. 1, 2020. The company will continue with the offering as previously disclosed.
About Engold Mines Ltd.
Engold is a Vancouver-based copper, gold, silver, magnetite exploration company focused solely on its 100-per-cent-owned Lac La Hache property in the Cariboo region of British Columbia, which hosts the Spout copper deposit, the Aurizon gold deposit and the G1 copper discovery, and other targets within a large porphyry mineralizing system.
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