/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICE OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, May 17, 2018 /CNW/ - David H. Brett, President & CEO, EnGold
Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that
the Company has closed the first tranche of its brokered private
placement with Canaccord Genuity Corp. (the "Agent") acting as
agent (refer to News Releases dated April
16, 2018 and May 1, 2018). The
Company has issued 2,429,667 Flow-Through Units at $0.30 per Flow-Through Unit for gross proceeds of
$728,900.10, and 193,000 Common Units
at $0.26 per Common Unit for gross
proceeds of $50,180.00. The Agent's
commissions and expenses were deducted from the proceeds of the
sale of Common Units, and 170,076 Agent's warrants were issued in
connection with the sale of the Flow-Through Units and 13,510
Agent's warrants were issued in connection with the sale of the
Common Units. All securities issued under this closing of the first
tranche are subject to a hold period that will expire on
September 17, 2018.
The Company and the Agent will continue to offer for sale the
balance of the Flow-Through Units and Common Units, as disclosed in
the News Releases issued April 16,
2018 and May 1, 2018, and will
report on such progress in due course.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
About EnGold
EnGold (www.engold.ca) is focused on exploring its 100% owned
mineral property located near the town of Lac La Hache in BC's prolific Cariboo mining
region. EnGold's corporate philosophy rests on three interdependent
pillars: Environment, Engagement and Gold. Through sound
environmental stewardship, commitment to transparent engagement
with local communities, the Company is dedicated to driving
shareholder and stakeholder value by discovering and developing
mineral resources.
Engold Mines Ltd.
Per/
David Brett, MBA
President & CEO
Forward Looking Statements: The information in this news
release contains forward looking statements that are subject to a
number of known and unknown risks, uncertainties and other factors
that may cause actual results to differ materially from those
anticipated in our forward looking statements. Factors that could
cause such differences include: changes in world commodity markets,
equity markets, costs and supply of materials relevant to the
mining industry, change in government and changes to regulations
affecting the mining industry. Forward-looking statements in this
release include statements regarding plans to raise financing for
operations, future exploration programs and operation plans.
Although we believe the expectations reflected in our forward
looking statements are reasonable, results may vary, and we cannot
guarantee future results, levels of activity, performance or
achievements. EnGold disclaims any obligations to update or revise
any forward looking statements whether as a result of new
information, future events or otherwise, except as may be required
by applicable law.
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.
SOURCE Engold Mines Ltd.