HALIFAX, Nova Scotia, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD, MSE:ERDN, OTCQX:ERDCF) ("Erdene" or the "Company") is pleased to announce that further to its news release dated January 26, 2026, the Company has closed its bought deal private placement offering of 3,230,000 common shares of the Company (the "Common Shares") at a price of $8.90 per Common Share for gross proceeds of $28,747,000 (the "Offering"), including the full exercise of the underwriters' option. The Offering was conducted pursuant to an underwriting agreement between Paradigm Capital Inc. and National Bank Financial Inc., as co-lead underwriters and joint bookrunners, and BMO Capital Markets (collectively, the "Underwriters") and the Company.
Peter Akerley, Erdene's President and CEO stated, "The funds raised from the Offering will accelerate our development of the Khundii Minerals District, one of the most exciting new mineral regions in Asia. With production at the Bayan Khundii Gold Mine ramping up, exploration and development projects within the Strategic Alliance are expected to be funded through cash generated from production. Proceeds from the Offering will allow us to rapidly advance our wholly owned projects, including the Khuvyn Khar copper discovery and the Zuun Mod deposit, where a preliminary economic assessment is scheduled to be delivered in mid-2026, and to undertake evaluation of new prospects for tuck-in acquisitions and other opportunities to expand our land holdings, as we seek to grow operations in this extremely prospective terrain."
The net proceeds from the Offering will be used for exploration and technical studies on the Company's properties on the wholly-owned licence containing the Khuvyn Khar copper-porphyry system, which includes the Zuun Mod molybdenum-copper deposit and Khuvyn Khar copper discovery, and for target evaluation and general corporate and working capital purposes as described in the offering document.
The Offering is subject to the final ...
