Envirogold closes $2.2M first tranche of financing

Executive Summary

• Envirogold Global Ltd. closed the first tranche of its non‑brokered private placement, issuing 24,458,626 units at $0.09 per unit for gross proceeds of $2.20 million.
• Each unit includes one common share and one transferable warrant exercisable at $0.13 per share for three years; finders’ fees of $64,164 cash plus 607,933 non‑transferable warrants were paid.
• Proceeds will be used to accelerate technology development, demonstration plant campaigns, debt reduction, and general working capital, with the overall financing target remaining $5 million.

Key Details

• Units Issued: 24,458,626 (first tranche)
• Price per Unit: $0.09
• Gross Proceeds: $2,201,276
• Unit Composition: 1 common share + 1 transferable warrant (exercise price $0.13, three‑year term)
• Finders’ Fees Paid: $64,164 cash; 607,933 non‑transferable warrants on the same terms as the offering
• Related Party Subscription: Directors subscribed for 923,185 units, generating $83,086.65 gross proceeds (treated as a related‑party transaction under MI 61‑101)
• Use of Proceeds:
• Completion of modelling, technical studies, and engineering reports
• Optimization runs and operational programs at demonstration plant to advance NVRO process commercialization
• Repayment of short‑term debt and balance‑sheet strengthening
• General working capital for scaling operations
• Financing Target: $5 million total across multiple tranches; subsequent tranche expected soon
• Statutory Hold Period: All securities subject to a four‑month‑plus‑one‑day hold, expiring Feb. 2 2026 under Canadian securities law

Notable Quotes

“This first‑tranche closing was strongly supported by strategic investors… marks an important milestone for Envirogold and represents a clear vote of confidence in our vision.” – David Cam, CEO

Materiality Assessment: Material – Positive (significant capital raise that funds key technology and commercialization initiatives).