Flow - Through Units Offering
Search documents
Endurance Gold Announces $8 Million LIFE Private Placement of Flow-Through Units and Units
Globenewswire· 2026-02-19 22:17
Core Viewpoint - Endurance Gold Corporation has announced a private placement offering to raise gross proceeds of up to approximately $8,000,000 through the issuance of flow-through units and HD units [1][5]. Group 1: Offering Details - The offering consists of up to 4,188,500 flow-through units priced at $0.955 each, and 6,153,850 HD units priced at $0.65 each [1]. - Each flow-through unit includes one common share and one-half of a common share purchase warrant, with the warrant allowing the purchase of one non-flow-through common share at $0.90 within 24 months after the closing date [2]. - The agents have an option to sell additional HD units equal to 15% of the total units issued in the offering [3]. Group 2: Use of Proceeds - Proceeds from the sale of flow-through units will be used for eligible Canadian exploration expenses related to the company's projects, with a commitment to renounce these expenditures to initial subscribers by December 31, 2026 [4]. - Net proceeds from the sale of HD units will be allocated for drilling, exploration, testing at the Reliance Gold Project, and general corporate purposes [5]. Group 3: Closing and Regulatory Approval - The offering is expected to close around March 11, 2026, subject to necessary regulatory approvals, including conditional approval from the TSX Venture Exchange [6]. - The units will be offered to purchasers in Canada and other qualifying jurisdictions under specific exemptions from prospectus requirements [7].