Endurance Gold Corporation (EDG - TSX.V, "Endurance" or "Company") announces that further to its news release dated May 15, 2018, it has sold 2 million Inventus shares at a price of $0.18 per share to two directors of the Company (the "Transaction").
The Transaction is a non-arm's length transaction and constitutes a related party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. As the fair market value of the Transaction is less than 25% of the Company's market capitalization, the Company has relied on section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirements.
The Transaction has been accepted by the TSX Venture Exchange.
The Company is also pleased to announce that all outstanding warrants issued pursuant to a private placement closed on May 29, 2015 have been exercised. These generated an additional $340,000 to fund the Company's 2018 operations and exploration activities.
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.