News Release 06-14
Endurance Gold Corporation (EDG - TSX.V) is pleased to announce that the Company has closed the private placement financing announced on May 1, 2006 with two directors of the Company.
The non-brokered private placement consisted of 1,000,000 units ("Unit") at a price of $0.30 per Unit, for gross proceeds to the Company's treasury of $300,000. Each Unit is comprised of one common share and one common share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle its holder to acquire one additional common share at an exercise price of $0.40 for a period of one year from closing.
In accordance with securities legislation currently in effect, the Securities have a hold period of four months plus one day expiring on October 17, 2006.
The funds from the private placement will be used for general working capital and exploration expenditures.
No finder's fee or commission was payable in relation to the financing.
ENDURANCE GOLD CORPORATION
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT EITHER
Duncan McIvor (604) 682-2707, or Jeffrey Wilson, Corporate Communications (604) 868-0225, or visit our website at www.endurancegold.com.
The TSX Venture Exchange or any other regulatory authority has not reviewed, and does not accept responsibility for, the adequacy or accuracy of this news release.