Core Points - Enduro Metals Corporation has closed the first tranche of a non-brokered private placement, raising total gross proceeds of $2,730,477.43 and increasing the overall placement size to up to $3.5 million [1][4] Group 1: Private Placement Details - The first tranche included the issuance of 1,945,825 flow-through shares at a price of $0.185 per share and 15,803,332 non flow-through units at a price of $0.15 per unit [2] - Each non flow-through unit consists of one common share and one-half of a common share purchase warrant, with each warrant allowing the purchase of one common share at a price of C$0.22 until August 19, 2027 [3] - Proceeds from the non flow-through units will be used for general working capital, while proceeds from the flow-through shares will be allocated to eligible Canadian exploration expenses related to the Newmont Lake project [4] Group 2: Use of Proceeds and Tax Implications - The company will renounce qualifying expenditures by December 31, 2025, in an amount not less than the total gross proceeds raised from the issuance of the flow-through units, with expenses to be incurred by December 31, 2026 [5] - The company paid finders fees totaling $91,694.99 in cash and issued 599,741 finder's warrants to qualified parties [6] Group 3: Management Participation - Key executives, including the CEO and President, participated in the offering by purchasing flow-through shares and non flow-through units, which constitutes a related party transaction [7] Group 4: Company Overview - Enduro Metals is focused on the Newmont Lake Project, a 688 km² property located in British Columbia's Golden Triangle, with multiple deposit environments of interest identified [10]
Enduro Metals Announces Increase to Non-Brokered Private Placement and Closes First Tranche
Newsfile·2025-08-19 18:26