July 25, 2016
Energold Drilling Completes Private Placement for Gross Proceeds of Over $700,000
Energold Drilling Corp. has completed a non-brokered private placement of 716,192 units at a price of $1 per unit for aggregate gross proceeds of $716,192. Each unit comprises one common share in the capital of Energold and one common share purchase warrant. Each warrant is exercisable for one common share at a price of $1.75 per share until Jan. 22, 2018. The common shares and warrants underlying the units are subject to a four-month hold period from the date of issuance, and the private placement remains subject to the final approval of the TSX Venture Exchange.
The net proceeds of the offering will be used by the company to finance a portion of the company's capital program, which includes the purchase of two drilling rigs and ancillary supplies, and for working capital purposes. The objective is to extend the company's capability in technical mineral and water drilling programs in Africa.
About Energold
Energold is a leading global specialty drilling company that services the mining, energy, water, infrastructure and manufacturing sectors in approximately 25 countries. Specializing in a socially and environmentally sensitive approach to drilling, Energold provides a comprehensive range of drilling services from early stage exploration to mine site operations for all commodity sectors and has an established drill rig manufacturer, Dando Drilling International, based in the United Kingdom. Energold also holds 7.98 million shares of IMPACT Silver Corp., a silver producer in Mexico.
Cautionary Statements
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 release.
Forward-Looking Statements: Some statements in this news release contain forward-looking information. These statements include, but are not limited to the Company's anticipated use of proceeds and the Company's objectives. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the effects of general economic conditions, a reduction in the demand for the Company's drilling services, the price of commodities, changing foreign exchange rates, actions by government authorities, the failure to find economically viable acquisition targets, title matters, environmental matters, reliance on key personnel, the ability for operational and other reasons to complete proposed activities and work programs, the need for additional financing and the timing and amount of expenditures. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Energold undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
On behalf of the Directors of Energold Drilling Corp.,
"Frederick W. Davidson"
President, CEO
For further information, please contact:
Jerry Huang - Manager, Corporate Development & Investor Relations
(604) 681-9501 or via email at jhuang@energold.com
1100 - 543 Granville St.
Vancouver, BC V6C 1X8
www.energold.com
Telephone 604 681 9501
Facsimile 604 681 6813
info@energold.com
Neither 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 release.
Cautionary Note Regarding Forward-Looking Statements:
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to proposed activities, work programs and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the effects of general economic conditions, a reduction in the demand for the Company's drilling services, the price of commodities, changing foreign exchange rates, actions by government authorities, the failure to find economically viable acquisition targets, title matters, environmental matters, reliance on key personnel, the ability for operational and other reasons to complete proposed activities and work programs, the need for additional financing and the timing and amount of expenditures. Energold Drilling Corp. does not assume the obligation to update any forward-looking statement.
View News Release in PDF Format
Copyright � 2016 Energold Drilling Corp. (EGD) All rights reserved. For more information visit our website at http://www.energold.com/ or send email to info@energold.com. |
This message is personalized to you at .com.
Please do not forward this email.
Sent by
Energold Drilling Corp.
1100-543 Granville Street, Vancouver, BC, Canada V6C 1X8
Sent using QwikBroadcast� system from
Adnet Communications
#401 - 510 West Hastings St
Vancouver BC V6B 1L8, Canada
Report abuse: abuse@adnetinc.com
CLICK HERE TO UNSUBSCRIBE | |