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Engineer Gold Mines Ltd. — Capital/Financing Update 2021
May 20, 2021
47574_rns_2021-05-19_e4b126d8-f9ae-426a-a22f-4f7d4f8a01ef.pdf
Capital/Financing Update
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FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1: Name and Address of Reporting Issuer
Engineer Gold Mines Ltd. (the “Company”) Suite 804 – 750 West Pender Street Vancouver BC V6C 2T7
Item 2: Date of Material Change
May 14, 2021
Item 3: News Release
A news release was issued and disseminated on May 14, 2021 through The Newswire and filed on SEDAR (www.sedar.com).
Item 4: Summary of Material Changes
Engineer Gold Mines Ltd. closed the final tranche of its private placement through the issuance of 10,250,000 units. Each Unit is comprised of one common share and one-half of one share purchase warrant.
Item 5: Full Description of Material Change
Engineer Gold Mines Ltd. (the “Company”) (TSXV: EAU) announces the private placement first announced on March 23, 2021 has closed oversubscribed raising total gross proceeds of $1,099,500. The first tranche closed on April 20, 2021 for gross proceeds of $587,000. The second and final tranche closed today for gross proceeds of $512,500. The private placement units (“Unit”) are priced at $0.05 per Unit. Each Unit is comprised of one common share and one-half of one share purchase warrant (“Warrant”). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.12 per share for a period of 36 months from the dates of closing.
Finder’s fees total $63,825 and 1,276,500 finder’s warrants. The first tranche Finder’s fees were $29,750 and 595,000 finder’s warrants. The second and final tranche Finder’s fees payable are $34,075 and 681,500 finder’s warrants. Finder’s Warrants are exercisable to purchase one common share of the Company at a price of $0.09 for a period of 36 months from the dates of closing. The private placement is subject to TSX Venture Exchange final approval and all securities are subject to a four month hold period. The proceeds will be used for the exploration program at the Engineer Gold Mine Property, 32 km west of Atlin in northern BC, and general working capital.
Item 6: Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
Not applicable.
Item 7: Omitted Information
None.
Item 8: Executive Officer
For further information, please contact:
Thomas Kennedy: (604) 682-2928 Email: [email protected]
Item 9: Date of Report
May 20, 2021