Halifax, Nova Scotia – February 23, 2017 – Erdene Resource Development Corp. (TSX:ERD)
("Erdene" or "Company") is pleased to announce the closing of its previously announced bought deal
financing for gross proceeds to the Company of C$13.8 million (the “Offering”). The Offering was led
by Paradigm Capital Inc., with a syndicate including Canaccord Genuity Corp. (collectively, the
“Underwriters”).
The Company issued an aggregate of 17,922,077 common shares (“Shares”) at a price of C$0.77 per
Share, including the full exercise of the Underwriters’ 15% over-allotment option. The Offering was
oversubscribed with participation from multiple institutional investors from Canada and abroad.
In consideration for their services, the Underwriters received a cash commission of $828,000
representing 6% of the gross proceeds of the Offering and 1,075,324 compensation warrants (the
“Compensation Warrants”) representing 6% of the Shares issued pursuant to the Offering. Each
Compensation Warrant is exercisable for a period of 24 months from closing and entitles the holder to
purchase one Share for $1.20 per share.
All Shares issued in connection with the Offering are subject to a four-month hold period expiring June
24, 2017. The Company intends to use the net proceeds of the Offering to advance its 100%-owned,
high-grade Bayan Khundii and Altan Nar Gold Projects, and to further explore and develop the
Company's other gold properties in southwest Mongolia, as well as for working capital and general
corporate purposes. An approximate 20,000 metre drill program at Bayan Khundii is expected to
commence in April 2017.
“We are extremely pleased with the strong interest shown in the financing which was significantly
oversubscribed. It is our pleasure to welcome these high caliber shareholders into Erdene”, said Peter
Akerley, Erdene’s President and CEO. “We now have the financial capacity to significantly advance our
promising gold projects in southwest Mongolia.”
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the “U.S Securities Act”), or any state securities laws, and
accordingly, may not be offered or sold within the United States except in compliance with the
registration requirements of the U.S. Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation
to buy any securities in any jurisdiction.

Published Date:2017-02-24