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FINWIRES

Enduro Metals Upsizes a Private Placement of Share Units to $7.8 Million

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-- Enduro Metals (ENDR.V) on Thursday said it is upsizing a "best efforts" private placement to $7.8 million from $5 million.

The offering will now consist of the sale of 9.4-million non-flow-through units (NFT units) priced at $0.16 each and made up of a share and one half of a three-year warrant to buy a share for $0.24.

It will also place up to 28.6-million charity flow-through units for $0.22 each and made up of a tax-advantaged share and one half of a warrant with the same terms.

The company will concurrently place up to 6.6-million NFT units at $0.16 apiece for up to $1.1 million on a private placement basis "pursuant to other applicable exemptions from the prospectus requirements under Canadian securities laws".

Proceeds from the sale of NFT units and the concurrent private placement will be used for exploration and development at its mineral projects and for working capital and general corporate needs.

Shares of the company were last seen down $0.01 at $0.165 on the TSX Venture Exchange.

Price: $0.17, Change: $-0.01, Percent Change: -5.71%

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