Tickers: XTSX:EAU
Tags: #Mining
Vancouver, B.C. - TheNewswire - November 15, 2019 - Engineer Gold Mines Ltd. (TSXV:EAU) is pleased to announce that it has closed its private placement, announced on November 1st, 2019. The non-brokered private placement raised $300,000 through the issuance of 3,000,000 units ("Unit") at a price of $0.10 per each Unit. Each Unit is comprised of one common share and one-half of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.15 per share for a period of 30 months from the date of closing of the financing. Finder's fees of $8,000 in cash and 80,000 broker Units will be issued.
The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four month hold period. The proceeds will be used for the Phase 1 exploration program at the Engineer Gold Mine Property, 32 km west of Atlin in northern BC, and general working capital.
About Engineer Gold Mines Ltd.
Engineer Gold is a recently listed Company focused on the exploration and development of the 100%-owned, 12,032 ha Engineer Gold Mine Property, centered on the Historic high-grade Engineer Gold Mine situated 32 km southwest of Atlin, B.C. Previous work has identified a small, Inferred high-grade gold Mineral Resource, numerous high-grade vein and shear-hosted bulk-tonnage gold exploration targets and a small, high-grade gold production opportunity. Engineer Gold is fully permitted for surface and underground exploration drilling, small-scale test mining and on-site milling at the Engineer Gold Mine Property.
For additional information please visit the company website at www.engineergoldmines.com.
On behalf of the Board of Directors, For further information, please contact:
Mr. Brian P. Fowler, P.Geo. Nelson Da Silva
President and Director Manager Corporate Communications
bfowler@engineergoldmines.com (604) 722-0041
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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