Enduro Metals closes private placement raising $3.6 million

Enduro Metals Corporation (TSXV: ENDR) completed the second and final tranche of its non-brokered private placement, raising gross proceeds of $890,650.15. The total gross proceeds from both tranches reached $3,621,127.58, according to a company statement.

The second tranche included 289,190 flow-through shares at $0.185 per share and 5,581,000 non flow-through units at $0.15 per unit. Each non flow-through unit consists of one common share and one-half of one warrant, with each full warrant exercisable at C$0.22 per share until September 5, 2027.

Proceeds from the non flow-through units will support general working capital. Flow-through share proceeds will fund Canadian exploration expenses at the company's 688 square kilometer Newmont Lake project in British Columbia's Golden Triangle. The company will renounce qualifying expenditures with an effective date no later than December 31, 2025.

The company paid finder's fees of $4,110.01 in cash and issued 23,351 finder's warrants exercisable at $0.18 per share until September 5, 2026. All securities are subject to a four-month hold period expiring January 6, 2026.

Director Maurizio Napoli purchased 111,000 non flow-through units in the offering, making this a related party transaction under securities regulations. The company relied on exemptions from formal valuation and minority shareholder approval requirements.

The offering remains subject to final acceptance by the TSX Venture Exchange. Enduro Metals focuses on exploration at its Newmont Lake Project, which covers multiple mineral deposit environments including epithermal gold, skarn gold, and copper-gold porphyry mineralization.

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