Endurance Gold (EDG.V) has completed its best efforts private placement for gross proceeds of C$8.34M. Approximately C$4M of the financing consisted of flow-through units issued at C$0.955, while the remaining C$4.32M that was raised consisted of hard dollars, priced at C$0.65. Both units contain half a warrant with each full warrant allowing the warrant holder to acquire an additional share at C$0.90 during a two year period.
This means that, should the share price trade above C$0.90 and those warrants get exercised, the treasury will receive an additional C$4.9M in (hard dollar) funding further down the road. Insiders of the company subscribed for 540,000 hard dollar units in the financing, and that of course also is an encouraging vote of confidence.
Disclosure: The author has no position in Endurance Gold. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
