Wednesday, April 27, 2022 10:42:49 PM
BY MT Newswires
— 1:02 PM ET 04/27/2022
01:02 PM EDT, 04/27/2022 (MT Newswires) -- Enduro Metals Corp. ( ENDMF
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) said Wednesday that it plans to raise about $10.8 million via a structured non-brokered private placement offering.
The offering will include an investment from a mining financial institution totaling about $8.8 million.
The offering will consist of up to 24 million flow-through common shares at $0.365 per FT share; and up to 8 million common shares at $0.26 apiece.
The institutional investor is expected to own about 9.9% of the company's common shares post financing on a non-diluted basis.
Enduro plans to use the proceeds for the exploration of the company's key projects located in the Golden Triangle and for general working capital purposes.
The company's shares fell 8.9% on last look on Wednesday.
Price: 0.26, Change: -0.03, Percent Change: -8.93
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