Esgold closes $4.5-million private placement

Executive Summary

• Esgold Corp. has closed its non-brokered private placement of 5.3 million flow-through common shares, raising aggregate gross proceeds of $4,505,000.
• The shares were priced at $0.85 per flow-through share.
• Proceeds are designated for the exploration of the company's Montauban property in Quebec, specifically for Canadian exploration expenses to be incurred by December 31, 2026.

Key Details

• Transaction Structure: Non-brokered private placement of flow-through common shares.
• Quantity: 5,300,000 flow-through common shares.
• Price: $0.85 per flow-through share.
• Gross Proceeds: $4,505,000.
• Finder's Fee: Red Cloud Securities Inc. acted as a finder; the company paid an aggregate cash finder's fee of $315,350.
• Use of Proceeds: Financing exploration of the Montauban property in Quebec.
• Tax Treatment: Proceeds qualify as flow-through mining expenditures under the Income Tax Act (Canada) and Taxation Act (Quebec).
• Renunciation Timeline: Expenses to be incurred on or before December 31, 2026, and renounced to purchasers with an effective date no later than December 31, 2025.
• Hold Period: All securities are subject to a statutory hold period of four months and a day from issuance, ending April 9, 2026.

Notable Quotes

• None provided in the text.