Erdene Resource Development Corp (TSX:ERD; MSE:ERDN), a Tier 3 listed company on the MSE, has  announced that it has closed its previously announced non-brokered private placement raising gross proceeds of $2,533,345 on the Toronto Stock Exchange. Pursuant to the Offering, Erdene has sold 11,014,544 units of the Company at a price of $0.23 per Unit.

Proceeds of the Private Placement will be used to fund the independent Pre-Feasibility Study of the Company’s Khundii Gold Project, mining license applications for the project’s properties, potential acquisitions, including through the Mongolian Government’s recently re-opened license tender process, and for the general working capital purposes.

Click here to review news release.

MONGOLIAN STOCK EXCHANGE