ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) has announced the closure of an oversubscribed non-brokered private placement, raising a total of $3,649,171. This financial achievement was accomplished through the issuance of nearly 5 million units, each priced at $0.73. The funding, supported by both existing and new strategic investors, is earmarked for the construction of a mill circuit, final mobilization efforts at the Montauban gold-silver project, and general working capital needs.
Each unit sold in the private placement includes a common share and a warrant, which can be exercised at $0.91 per share for a period of 18 months. Additionally, ESGold Corp. issued 226,863 finder’s warrants and disbursed $165,610 in finder’s fees as part of the transaction. This strategic financial move underscores the company's commitment to advancing its Montauban project, located 80 kilometers west of Quebec City, which is poised to become a model for responsible mining practices.
The Montauban project represents a significant opportunity for ESGold Corp. to demonstrate its expertise in clean mining and exploration innovation. With the project fully permitted and in the pre-production phase, the company is focused on delivering long-term value through sustainable resource recovery and exploration. The successful private placement not only provides the necessary capital to move the project forward but also reflects investor confidence in ESGold Corp.'s vision and capabilities.
For more details on the private placement and the Montauban project, interested parties can view the full press release here.
