Endurance Gold Corporation (EDG -- TSX.V, "Endurance") is pleased to announce that, pursuant to its news releases dated May 11, 2012, it has closed a non-brokered private placement of 5,000,000 units (the "Unit") at a price of $0.10 per Unit for gross proceeds of $500,000. Each Unit consists of one common share and one non-transferable common share purchase warrant (the "Warrant"). Each Warrant is exercisable into one common share at a price of $0.10 per share for a period of 5 years from the date of closing (the "Closing"). The Warrants are subject to an accelerated expiry date which comes into effect when the trading price of the common shares of the Company closes at or above $0.30 per share for twenty consecutive trading days in the period commencing four months after the Closing. In the event that the Company gives an expiry acceleration notice (the "Notice") to holder of the warrants, the expiry date of the Warrants will be 30 days from the date of the Notice. A total of 3,200,000 Units were subscribed by directors and companies controlled by directors of the Company.
The gross proceeds from the sale of the Units will be used to fund the Company's exploration activities and for general working capital. No commissions or finders' fees were paid in connection with this financing.
The private placement is subject to final regulatory acceptance. The securities issued in this financing will be subject to a hold period of four months plus one day from the Closing.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com
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