Endomines publ : carries out a directed share issue in an amount of approximately EUR 1.3 million to speed up developments at the Friday mine

Endomines carries out a directed share issue in an amount of approximately EUR 1.3 million to speed up developments at the Friday mine

Endomines AB, Stock Exchange Release 8 April 2020 at 17:30 CEST

Endomines' Board of Directors has today, in accordance with the authorisation
granted by the extraordinary general meeting on 10 December 2019, resolved on a
directed issue of 2,465,000 shares to certain institutional and private
investors in Finland resulting in approximately EUR 1.3 million in proceeds for
the company. The consideration in the share issue will be used to finance an
accelerated ramp-up at the Friday mine.

In light of the increased price of and demand for gold recently, Endomines has
concluded that accelerating the ramp-up at the Friday mine would be of great
value to the company. The Board of Directors considers the directed share issue
to be the most beneficial way for the company to quickly access the capital
required for this purpose. The share issue is carried out at a subscription
price of EUR 0.54 per share, which represents a discount of 10% compared to the
volume weighted average price of the Endomines share on Nasdaq Helsinki during 2
-6 April, which according to the Board of Directors assessment is in line with
the market value. The number of shares in Endomines will, after registration of
the share issue, increase from 113,447,640 to 115,912,640 and the share capital
will increase from 340,748,679 SEK to 348,152,495 SEK. The share issue results
in a dilution of approximately 2.1 per cent of the total amount of shares and
votes in Endomines.

Ingmar Haga, Chairman of the Boards of Endomines, comments: 'During the ongoing
turmoil in global economy the demand for gold has grown significantly and its
price has increased substantially. Therefore, we have taken the decision to
accelerate the ramp-up of our Friday operation. This will in the short term
require more working capital than we had planned. It is very positive to see,
that in this challenging financial market conditions, there is confidence
towards Endomines and we managed to complete this capital raise in a very short
period of time.'

UB Securities Ltd acts as financial advisor to Endomines in connection with the
directed share issue.



Contact person
Ingmar Haga, Chairman, [phone], [e-mail]
Marcus Ahlström, Deputy CEO and CFO, [phone],
[e-mail]


This information is information that Endomines AB is obliged to make public
pursuant to the EU Market Abuse Regulation. This information was submitted for
publication through the contact persons set out above at 17:30 CEST on 8 April
2020.


About Endomines
Endomines is a mining and exploration company with its primary focus on Au. The
Company operates a Gold mine in Pampalo, has exploration activities along the
Karelian Au Line in Eastern Finland and develops mining operations in Idaho,
USA. Endomines aims to improve its long-term growth prospects by increasing its
exploration activities and through acquisitions. Endomines aims to acquire
deposits that are situated in stable jurisdictions and can be brought to
production rapidly with limited investments.
The shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).

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