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Engineer Gold Mines Ltd. Provides an update on Private Placement Tranche One Closes
(TheNewswire) NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. ...
About this update from Engineer Gold Mines Ltd.
[{"type":"text","content":"Engineer Gold Mines Ltd. Provides an update on Private Placement Tranche One Closes\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR\nDISTRIBUTION TO U.S. WIRE SERVICES\n \n \n \n \n November 14, 2022 – TheNewswire -\n \n \n Vancouver, BC\n–\n \n \n Engineer Gold Mines Ltd.\n \n \n (the “Company”) (TSXV:EAU)\n \n \n announces it has closed tranche one of a non-brokered private\nplacement announced October 13, 2022.\n \n \n \n \n Gross proceeds of $152,500 have\n \n \n \n \n been raised in the first tranche\nby the issuance of 6,100,000 units (“Unit”) at a price of $0.025\nper Unit. Each Unit is compri\n \n \n sed of one common\nshare and one full\n \n \n share purchase warrant (a\n“Warrant”). Each Warrant is exercisable to purchase one common\nshare of the Company at a price of $0.1\n \n 0\n \n per\nshare expiring on November 10, 2027.  Commissions of $11,600 and\n464,000 finders warrants exercisable to purchase one common share of\nthe Company at a price of $0.1\n \n 0\n \n per share\nexpiring on November 10, 2027 were issued in connection with this\ntranche.\n \n \n \n \n \n \n [ANNOTATION:\n \n \n \n BY 'Christopher Huggins'\n \n \n \n ON '2022-11-10T12:57:00'\n \n CH\n \n \n NOTE: 'I've put the use of proceeds as percentages\nbecause as this is tranche 1, the actual amounts at final close will\ndepend on how much is raised… '\n \n \n \n NOTE: ''\n \n ]\n \n \n \n Proposed\nuse of proceeds can include up to: 65% geological compilation,\nexploration program development & consulting; 15% non-arms length\npayment\n \n \n s; 20% general working capital purposes.\nN\n \n \n one of the proceeds from the 1st tranche are\nbeing used to pay for Investor Relations Activities\n \n \n .\n \n \n \n \n The private placement is subject to TSX Venture\nExchange approval and all securities are subject to a four month hold\nperiod in accordance with the policies of the TSX Venture Exchange.\n \n \n \n \n About the Properties\n \n \n \n \n Engineer Gold Mine:\n \n \n The Engineer Gold mine is a narrow vein past producing\nunderground gold mine with an Inferred Mineral Resource of 41,000 t\ngrading 19.0 g/t gold for 25,000 oz contained gold. The resource uses\na cutoff grade of 5 g/t Au and assumes a 1m...