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Engineer Gold Mines Ltd. Provides an update on Private Placement Tranche Two Closes
(TheNewswire) Vancouver, BC - TheNewswire - December 21, 2022 - Engineer Gold M...
About this update from Engineer Gold Mines Ltd.
[{"type":"text","content":" Engineer Gold Mines Ltd. Provides an update on Private Placement Tranche Two Closes\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC\n \n \n -\n \n \n TheNewswire - December 21, 2022 -\n \n \n Engineer\nGold Mines Ltd\n \n \n .\n \n \n (the “Company”) (TSXV:EAU)\n \n \n The\nPrivate Placement first announced on October 13, 2022 has closed\nraising a total of $209,500. The first tranche closed on November 10,\n2022 for 6,100,000 units (“Unit”) raising gross proceeds of\n$152,500.  The second and final tranche closed today for 2,280,000\nunits raising gross proceeds of $57,000.  The private placement units\nare priced at $0.025 per Unit.  Each Unit is compri\n \n \n sed of one common share and one\n \n \n share\npurchase warrant (a “Warrant”). Each Warrant is exercisable to\npurchase one common share of the Company at a price of\n$0.1\n \n 0\n \n per share expiring 60 months from the date\nof closing.\n \n \n \n \n If, at any time after the closing date, the\ncorporation's common shares have a closing price of 15 cents or more\nper share for 10 consecutive trading days on the TSX Venture Exchange,\nthe corporation shall be entitled to give notice via a news release\nthat the warrants issued pursuant to this placement will expire 30\ndays from the date of the news release, unless such warrants are\nexercised before the expiry of that period, and in such event, all\nunexercised warrants will expire at 4:30 p.m. Pacific time on the last\nday of such 30 day period.\n \n \n \n \n Commissions of $11,600 and 464,000 finders warrants\nexercisable to purchase one common share of the Company at a price of\n$0.1\n \n 0\n \n per share expiring on November 10, 2027\nwere issued in connection with the first tranche. Commissions of\n$2,000 and 80,000 finders warrants exercisable to purchase one common\nshare of the Company at a price of $0.1\n \n 0\n \n per\nshare expiring on December 21, 2027 were issued in connection with the\nsecond tranche.\n \n \n \n \n Proposed use of proceeds can include up to: 55%\ngeological compilation, exploration program development &\nconsulting; 15% non-arms length payments; 20% general working capital\npurposes and 10% Investor Relations.\n \n \n \n \n The private placement is subject to TSX Venture\nExchange approva...