Endurance Gold closes $8.34-million private placement

Executive Summary

• Endurance Gold Corp. has completed an oversubscribed private placement of flow-through and hard-dollar units, raising approximately C$8.3 million in aggregate gross proceeds.
• The offering consisted of 4,188,500 flow-through units priced at 95.5 cents and 6,680,100 hard-dollar units priced at 65 cents, including the partial exercise of an overallotment option.
• Proceeds are designated for eligible Canadian exploration expenses (flow-through) and drilling/exploration at the Reliance gold project plus working capital.

Key Details

• Aggregate Gross Proceeds: $8,342,082.50.
• Flow-Through Units (FT):
  • Quantity: 4,188,500 units.
  • Price: 95.5 cents per unit.
  • Gross Proceeds: $4,000,017.50.
  • Composition: One common share and one-half of one common share purchase warrant per unit.
  • Warrant Terms: Exercisable for one non-flow-through common share at $0.90 per share, exercisable until March 11, 2028.
  • Use of Proceeds: To incur eligible Canadian exploration expenses (flow-through mining expenditures) related to projects in Canada, to be renounced to subscribers by December 31, 2026.
• Hard-Dollar Units (HD):
  • Quantity: 6,680,100 units (includes 526,250 units from partial exercise of agent overallotment option).
  • Price: 65 cents per unit.
  • Gross Proceeds: $4,342,065.
  • Composition: One common share and one-half of one common share purchase warrant per unit.
  • Warrant Terms: Exercisable for one non-flow-through common share at $0.90 per share, exercisable until March 11, 2028.
  • Use of Proceeds: Drilling, exploration, and testing at the Reliance gold project, and working capital/general corporate purposes.
• Agent Compensation:
  • Cash Commission: $457,232.35.
  • Broker Warrants: 568,410 warrants issued to agents.
  • Broker Warrant Terms: Exercisable for one common share at $0.75 per share, exercisable until March 11, 2028.
  • Hold Period: Broker warrants are subject to a four-month hold period.
• Related-Party Transaction:
  • Insiders subscribed for 540,000 HD units.
  • Exemptions relied upon: Sections 5.5(a) and 5.7(1)(a) of MI 61-101 (exempting formal valuation and minority shareholder approval).
  • Hold Period: HD units purchased by related parties are subject to a four-month and one-day hold period.
• Regulatory Status:
  • Offered under the Listed Issuer Financing Exemption (LIFE) under NI 45-106.
  • Subject to final acceptance by the TSX Venture Exchange.
  • FT units issued to Canadian residents are not subject to a hold period.

Notable Quotes

• None provided in the text.