The Prospector News

Erdene Completes $7.2M Private Placement Led by Investment From Eric Sprott

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Erdene Completes $7.2M Private Placement Led by Investment From Eric Sprott

 

 

 

 

 

Erdene Resource Development Corporation (TSX:ERD) (MSE:ERDN) is pleased to announce completion of the previously announced non-brokered private placement, raising gross proceeds of $7,180,106, led by a $2 million investment from Mr. Eric Sprott.

 

Pursuant to the Offering, Erdene sold 23,933,687 units of the Company at a price of $0.30 per Unit. Each Unit consists of one common share and one-half of one common share purchase warrant. Warrants are exercisable by the holder into one common share of the Company within two years of the closing date, at a price of $0.45 per share. Erdene will pay finder’s fees of $151,048 and will issue 236,826 finder’s warrants in connection with the Offering. The finder’s warrants are exercisable on the same terms as the unit Warrants.

 

Proceeds of the Offering will be used to fund exploration, including follow up drilling at the recent Ulaan and Dark Horse discoveries, site establishment work for the Company’s Bayan Khundii Gold Project development, and for general working capital purposes.

 

About Erdene

 

Erdene Resource Development Corp. is a Canada-based resource company focused on the acquisition, exploration, and development of precious and base metals in underexplored and highly prospective Mongolia. The Company has interests in three mining licenses and an exploration license in Southwest Mongolia, where exploration success has led to the discovery and definition of the Khundii Gold District. Erdene Resource Development Corp. is listed on the Toronto and the Mongolian stock exchanges.

 

Posted July 21, 2022

Share this news article

MORE or "UNCATEGORIZED"


Delta Reports New Gold Intercept at Nova Target in Wedge Area, 4 Kilometres West of Eureka; Follow-Up Drill Program Underway

Delta Reports New Gold Intercept at Nova Target in Wedge Area, 4 ... READ MORE

February 4, 2026

Silver One Announces Closing Of Final Tranche Of $32 Million Financing

Silver One Resources Inc. (TSX-V: SVE) (OTCQX: SLVRF) (FSE: BRK1)... READ MORE

February 4, 2026

SAGA Metals Achieves 100% Drilling Success in 2025—Reports Final Assays from Trapper South at Radar Critical Minerals Project in Labrador

Exceptional grades of Titanium, Vanadium and Iron in all 15 drill... READ MORE

February 4, 2026

Near Surface Intersection Yields 6.58 g/t gold over 10.35 metres

Intersection is within 33 metres from surface and contained in a ... READ MORE

February 4, 2026

Alamos Gold Provides Three-Year Operating Guidance Outlining 46% Production Growth by 2028 at Significantly Lower Costs

Further production growth to one million ounces annually expected... READ MORE

February 4, 2026

Copyright 2026 The Prospector News