Envirogold arranges $5-million private placement

Executive Summary

• Envirogold Global Ltd. announced a non-brokered private placement to raise up to $5 million in gross proceeds.
• The company will issue units at $0.09 per unit, with each unit comprising one common share and one transferable warrant.
• Proceeds are designated for technology engineering, demonstration plant campaigns, debt reduction, and working capital.

Key Details

• Gross Proceeds: Up to $5,000,000.
• Price Per Unit: $0.09.
• Unit Composition: Each unit consists of one common share and one transferable common share purchase warrant.
• Warrant Terms: Each warrant allows the holder to acquire one additional common share at an exercise price of $0.13 per share.
• Warrant Expiry: Three years from the closing date of the tranche in which the unit is issued.
• Use of Proceeds:
  • Technology and engineering: Completion of modelling, technical studies, and engineering reports.
  • Demonstration plant campaigns: Optimization runs and operational programs to accelerate the NVRO process to commercialization.
  • Debt reduction: Targeted repayment of short-term obligations to strengthen the balance sheet.
  • General working capital: To ensure operational resilience as the company scales.
• Closing Timeline: Expected to close in one or more tranches on or before October 15, 2025, subject to regulatory approvals (including Canadian Securities Exchange acceptance).
• Hold Period: All securities are subject to a statutory hold period of four months and one day from the applicable closing date.
• Related-Party Transactions: Directors and officers may acquire units; this is treated as a related-party transaction under MI 61-101. The company anticipates relying on exemptions from formal valuation and minority shareholder approval requirements as the value is not expected to exceed $2.5 million.
• Finders' Fees: The company may pay finders' fees in cash and/or warrants to eligible arm's-length parties.