EnGold arranges $2M FT private placement

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By CPE News

Vancouver (pcJ News Briefs) – EnGold Mines Ltd. (TSX-V: EGM) has arranged a non-brokered private placement of 4,000,000 flow-through (FT) units at $0.50 per FT unit for gross proceeds of $2,000,000.

The FT units will consist of one FT share and one warrant to purchase one non-FT common share at a price of $0.60 for a period of two years.

Proceeds will be used to fund ongoing exploration at EnGold’s 100% owned Lac La Hache Property in the Cariboo region of BC.

EnGold may pay a cash finder’s fee of 7% and issue 7%, 2-year finder’s warrants to purchase one non-FT share at $0.60 per share.