Endomines — Share Issue/Capital Change 2023

May 12, 2023

LDA partially converts its convertible loan

LDA partially converts its convertible loan

Endomines Finland Plc - Stock Exchange Release, 12.5.2023, at 16.00 EET

As communicated by Endomines on April 3th, 2023, Endomines issued a convertible
loan to LDA Capital Limited (LDA) for a total amount of EUR 1,000,000 based on
LDA's investor call request. LDA has notified Endomines that LDA wishes to
convert part of this loan, total EUR 200,000, into new Endomines shares. After
this conversion, the remaining LDA convertible loan totals EUR 600,000. Under
the terms of the convertible loan agreement between the parties, the conversion
price corresponds to 85 percent of the daily volume weighted average price for
the Company's share on Nasdaq Helsinki during the 15 trading days the date of
the conversion demand.

As a result of the conversion, Endomines will issue 52,357 new shares. Following
the conversion, the total number of shares and votes in Endomines will increase
from 9,545,820 shares and votes to 9,598,177 shares and votes. The new shares
represent approximately 0.5 percent of the increased total number of shares and
votes of the company after the registration of the new shares.

Endomines Finland Plc

Contact person

Mikko Sopanen, CFO

mikko.sopanen@endomines.com, +358 50 434 7439

Endomines

Endomines is a mining and exploration company with its primary focus on gold.
Endomines is engaged in mining operations at the Pampalo mine in Ilomantsi, and
in exploration activities along the Karelian Gold Line in Eastern Finland.
Endomines also owns rights to several gold deposits in Idaho and Montana, US,
where Endomines aims to continue the development work through partnership
agreements. www.endomines.com

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