Business
Enduro Metals Announces Increase to Non-Brokered Private Placement and Closes First Tranche
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2025) - Enduro Metals Corporation (T...
About this update from Enduro Metals Corporation
[{"type":"text","content":"Enduro Metals Announces Increase to Non-Brokered Private Placement and Closes First TrancheVancouver, British Columbia--(Newsfile Corp. - August 19, 2025) - Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG0) (\"Enduro\", \"Enduro Metals\" or the \"Company\") is pleased to announce that it has closed the first tranche of the non-brokered private placement announced on July 16, 2025 for total gross proceeds of $2,730,477.43 and has increased the size of the private placement to up to $3.5 million in gross proceeds. The first tranche consisted of the issuance of 1,945,825 flow-through shares (\"FT Shares\") at a price of $0.185 per FT Share and 15,803,332 non flow-through units (\"NFT Units\") at a price of $0.15 per NFT Unit.Each FT Share qualifies as a \"flow-through share\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).Each NFT Unit consists of one common share and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one common share of the Company (a \"Warrant Share\") at a price of C$0.22 per Warrant Share until August 19, 2027.The proceeds from the issue and sale of the NFT Units are for general working capital. The proceeds from the issue and sale of the FT Shares will be used primarily by the Company to incur eligible \"Canadian exploration expenses\" that qualify as \"flow-through mining expenditures\" (as both terms are defined in the Income Tax Act (Canada)) (the \"Qualifying Expenditures\") related to the Company's exploration and development of the large 688 km2 Newmont Lake project, located in the heart of British Columbia's prolific Golden Triangle.The Company will renounce Qualifying Expenditures with an effective date of no later than December 31, 2025, in an amount of not less than the total amount of the gross proceeds raised from the issuance of the FT Units and incur such expenses by December 31, 2026.The Company paid finders fees in the amount of $91,694.99 cash and 599,741 finder's warrants (the \"Finder's Warrants\") to arm's length qualified parties in accordance with Exchange Policies (Haywood Securities Inc. was paid $9,029.99 and 50,741 Finder's Warrants, Leede Financial Inc. was paid $1,665 and 9,000 Finder's Warrants and Mezzo Consulting Se...