Endurance Gold Corporation (EDG - TSX.V, "Endurance") is pleased to announce that, pursuant to its news releases dated June 11, 2013, 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 is comprised of one common share and one non-transferable common share purchase warrant (the "Warrant"). Each Warrant is exercisable into one common share at an exercise price of $0.10 until July 11, 2018. 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 the holder of the warrants, the expiry date of the Warrants will be 30 days from the date of the Notice. The Units were fully subscribed by directors and company controlled by a director 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. All securities issued pursuant to this private placement will be subject to a hold period which expires on November 12, 2013.
Neither the 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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.