ESGold Corp. has announced the successful closure of an oversubscribed non-brokered private placement that generated $3,649,171 in funding for the company. The financing was accomplished through the issuance of nearly 5 million units, with each unit priced at $0.73 and consisting of one common share plus a warrant exercisable at $0.91 for an 18-month period. This substantial capital infusion represents a significant milestone for the company's development plans and operational expansion.
The proceeds from this financing round are specifically allocated toward critical development activities at the Montauban gold-silver project, including mill circuit construction and final mobilization efforts. Additional funds will support general working capital requirements as the company advances toward production goals. The private placement attracted participation from both existing shareholders and new strategic investors, reflecting strong market confidence in ESGold Corp.'s operational strategy and the long-term potential of the Montauban property.
As part of the financing arrangement, the company issued 226,863 finder's warrants and paid $165,610 in finder's fees to financial intermediaries who facilitated investor participation in the offering. The Montauban project, strategically positioned 80 kilometers west of Quebec City, serves as ESGold Corp.'s flagship property and embodies the company's commitment to responsible mining practices. The project combines near-term production objectives with the potential for district-scale discoveries, aligning with ESGold Corp.'s focus on sustainable resource recovery and systematic exploration. For comprehensive details regarding the private placement and project specifications, interested parties can access the complete announcement at https://www.esgoldcorp.com.
