Esgold closes $8-million private placement

Executive Summary

• Esgold Corp. has closed its previously announced best efforts private placement, raising gross proceeds of C$8.0 million.
• The company issued 10,666,667 units at a price of C$0.75 per unit, including the full exercise of the agent's over-allotment option.
• Net proceeds are designated for the advancement of the Montauban project in Quebec, general working capital, and corporate purposes.

Key Details

• Gross Proceeds: C$8,000,000 (includes full exercise of agent's option).
• Units Sold: 10,666,667 units.
• Price Per Unit: C$0.75.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $1.10.
• Warrant Expiry: September 18, 2028.
• Agent/Bookrunner: Red Cloud Securities Inc.
• Agent Compensation:
  • Aggregate cash fees: $460,867.50.
  • 614,490 non-transferable common share purchase warrants.
  • Broker warrant exercise price: The offering price (C$0.75).
  • Broker warrant expiry: September 18, 2028.
  • Broker warrant hold period: Statutory hold period; tradeable after January 19, 2026.
• Use of Proceeds: Advancement of the flagship Montauban project in Quebec, general working capital, and corporate purposes.
• Regulatory Status: Issued pursuant to the listed issuer financing exemption under National Instrument 45-106. Closing remains subject to final approval of the Canadian Securities Exchange (CSE).
• Tradeability: Shares and warrants are immediately freely tradeable for purchasers resident in Canada.

Notable Quotes

• None provided in the text.