Evergold closes $300,000 private placement

Executive Summary

• Evergold Corp. has closed a non-brokered private placement financing totaling $300,000 with principals associated with the Ore Group.
• The transaction involves the issuance of 1,304,346 units at a price of $0.23 per unit, with each unit consisting of one common share and one full common share purchase warrant.
• The financing marks the start of a strategic repositioning for Evergold, focusing exclusively on its 100%-owned Golden Lion gold-silver project in British Columbia.

Key Details

• Gross Proceeds: $300,000
• Structure: Non-brokered private placement.
• Units Issued: 1,304,346 units.
• Price Per Unit: $0.23.
• Warrant Terms: Each unit includes one full common share purchase warrant exercisable to acquire one additional common share at an exercise price of $0.30.
• Warrant Expiry: Two years from issuance.
• Hold Period: Four months and one day from the date of issuance for all securities issued and issuable.
• Regulatory Status: Completion is subject to receipt of all required regulatory approvals, including approval from the TSX Venture Exchange.
• Strategic Context: The investment initiates a broader repositioning of Evergold, shifting to a singular strategic focus on the Golden Lion gold-silver project in the Toodoggone district of British Columbia.

Notable Quotes

• "The investment marks the beginning of a broader repositioning of Evergold, including a singular strategic focus on the company's 100-per-cent-owned Golden Lion gold-silver project, located in the prolific Toodoggone district of British Columbia."