Canadian precious metals exploration and development company Endurance Gold has revealed plans to conduct a non-brokered private placement to raise up to $4m (C$5.46m).

The capital will be sourced by selling up to 20 million units at $0.20 each.

Each unit in the offering will comprise one common share and a half of a non-transferable common share purchase warrant.

The warrant grants the investor the right to purchase an additional share at $0.32 within a two-year period from the date of issue.

Notably, the offering does not hinge on a minimum aggregate subscription.

The proceeds from the unit sales are earmarked for Endurance Gold’s exploration endeavours and for general corporate needs.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The completion of the offering is contingent upon approval from the TSX Venture Exchange.

Securities issued in this offering will be subject to a statutory hold period, which will expire four months and one day after the closing date. In line with the policies of the Exchange, finders’ fees may be applicable to the offering.

Endurance Gold said in a statement: “The Company will rely on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) contained in sections 5.5(a) and 5.7(1)(a) of MI  61-101 in respect of such insider participation.”