Erdene Resource Development Corporation (TSX:ERD | MSE:ERDN) is announced that it intends to issue, by way of a non-brokered private placement, up to 20,000,000 units of the Company (the “Units”) at a price of $0.30 per Unit (the “Private Placement”), for gross proceeds of up to $6,000,000.

Proceeds of the Private Placement 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.

The Private Placement is expected to close on or about July 22, 2022 and is subject to the Company receiving all necessary regulatory approvals, including approval of the Toronto Stock Exchange. Securities issued under the Private Placement will be subject to a four month hold period which will expire four months plus one day from the closing date of the Private Placement. 

Please click here to see the detailed information. 

MONGOLIAN STOCK EXCHANGE