Enduro Metals closes $3.62-million private placement

Executive Summary

• Enduro Metals closed the second and final tranche of its non‑brokered private placement, raising a total of $3.62 million in gross proceeds.
• The tranche consisted of 289,190 flow‑through shares at C$0.185 each and 5,581,000 non‑flow‑through units at C$0.15 each, with accompanying warrants exercisable at C$0.22 until 5 Sept 2027.
• Proceeds will be used for general working capital (NFT units) and to fund eligible Canadian exploration expenses on the Newmont Lake project (FT shares), with a renunciation commitment by 31 Dec 2025 covering the full amount raised.

Key Details

• Total gross proceeds: C$3,621,127.58 (C$890,650.15 for tranche 2).
• Tranche 2 composition:
• 289,190 flow‑through shares @ C$0.185 per share.
• 5,581,000 non‑flow‑through units @ C$0.15 per unit.
• Non‑flow‑through unit structure: each unit = one common share + ½ warrant; warrants allow purchase of one common share at C$0.22 until 5 Sept 2027.
• Use of proceeds:
• NFT units – general working capital.
• FT shares – eligible Canadian exploration expenses for the Newmont Lake project, with renunciation of expenditures ≥ total FT proceeds by 31 Dec 2025 and spending by 31 Dec 2026.
• Finder’s compensation: C$4,110.01 cash plus 23,351 finder’s warrants (exercisable at C$0.18 until 5 Sept 2026).
• Holding period: All securities subject to a four‑month hold, expiring 6 Jan 2026.
• Related party transaction: Director Maurizio Napoli purchased 111,000 NFT units; exemption relied upon under MI 61‑101 sections 5.5(a) and 5.7(a).
• Regulatory: Offering pending final acceptance by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)