For Immediate Release. September 1, 2016. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, the “Company,” www.engold.ca) reports that EnGold has closed a first tranche of a non-brokered private placement previously announced on July 29, 2016 (the “Offering”).The closing consisted of the issuance of a total of 2,860,000 Flow Through units (the “FT Units”) at a price of $0.07 per FT Unit for gross proceeds of $200,200 and 1,496,000 non Flow Through units (the “NFT Units”) at a price of $0.05 per NFT Unit.Each FT Unit consists of one flow-through common share and one warrant (“Warrant”) with each Warrant entitling the holder to acquire one non-flow through common share at a price of $0.10 per share until August 31, 2018. Each NFT Unit consists of one common share and one warrant (“Unit Warrant”) with each Unit Warrant entitling the holder to acquire one non-flow through common share at a price of $0.08 per share until August 31, 2018. Proceeds of the first tranche of the Offering will be used for exploration of the Company’s 100% owned Lac La Hache Property in central British Columbia and for general working capital purposes.
In connection with the Offering, the Company paid cash finder’s fees of $19,250 and issued 304,920 finder’s warrants entitling the holder to purchase one common share at $0.08 per share for two years ending August 31, 2018.
Engold Mines Ltd.
David Brett, MBA
President & CEO
For further info contact David Brett, 604-682-2421 or firstname.lastname@example.org
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