Vancouver, British Columbia--(Newsfile Corp. - April 4, 2025) - ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (FSE: Z7D) ("ESGold" or the "Company") is pleased to announce the successful completion of a non-brokered private placement (the "Offering"), which was conditionally reserved with the Canadian Securities Exchange (the "CSE") and opened and completed concurrently. The Offering consisted of 15,926,933 units (the "Units") at a price of US$0.15 (C$0.215) per Unit, for gross proceeds of US$2,389,040 (C$3,424,291).
A Pivotal Step Toward Production
The proceeds from this financing will be directed toward hiring contractors and engineering teams to commence construction of the mill circuit at the Company's fully permitted Montauban Project in Quebec. This represents a major milestone, and the final phase of infrastructure development required to bring the project into production.
New York-based hedge funds and family offices participated for the majority of the capital raised, demonstrating meaningful institutional interest and support for ESGold's clean production model and exploration potential.
"This financing is a very unique capital raise-it signals ESGold's ability to begin assembly of the gold and silver processing circuit at Montauban," said Brad Kitchen, President of ESGold. "With construction now imminent, we are entering the final stages before production. We extend our sincere gratitude to our shareholders and new investors-particularly the New York-based hedge funds and family offices that led the round-for their tremendous confidence in our vision. Together, we are positioning ESGold to become Canada's next mining company."
Each Unit consists of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at a price of US$0.21 (C$0.30) for a period of 24 months from the date of closing.
In connection with the financing, the company will pay a cash finder's fee of C$165,628 and issue 770,361 finders' warrants. The finders' warrants will be exercisable into common shares for a period of 24 months at an exercise price of C$0.30 cents per common share.
Use of Proceeds
Net proceeds will be allocated to:
Commencement of mill circuit construction and related engineering work;
Final project mobilization for the Montauban Gold-Silver Project; and
General working capital requirements.
All securities issued in connection with the offering are subject to a restricted hold period of four months and one day from the date of closing of the offering under applicable securities legislation. The Offering is subject to CSE approval, and the Company anticipates that it will close in five (5) business days on April 11, 2025.
The subscribers in the offering included insider participation from Brad Kitchen (president and director), Paul Mastantuono (chief executive officer and director) and Anthony Giuliano (chief financial officer). The insiders subscribed for an aggregate of 1,250,000 units. The issuance of Units to the insiders constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions from the formal valuation and minority shareholder approval requirements, pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, for the insider participation in the offering, as the value of the units subscribed for does not represent more than 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101.
A Platform for Growth
With over 60% of Montauban's infrastructure already in place and the project fully permitted, this financing positions the Company to move decisively into production. In parallel, the Company continues to advance its exploration initiatives, including the ongoing Ambient Noise Tomography (ANT) survey, which aims to define the full scale and depth of the deposit for the first time in its 110-year history.
About ESGold Corp.
ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (FSE: Z7D) is a fully permitted, pre-production resource company at the forefront of clean mining and exploration innovation. With proven expertise in Quebec, the Company is advancing its projects toward production and feasibility while delivering long-term value through sustainable resource recovery and exploration. ESGold's flagship Montauban property, located 80 kilometers west of Quebec City, serves as a model for responsible mining practices, combining near-term production with district-scale discovery potential.
For more information, please contact ESGold Corp. at +1-888-370-1059 or visit esgold.com for additional resources, including a French version of this press release, past news releases, a 3D model of the Montauban processing plant, media interviews, and opinion-editorial pieces.
On behalf of the Board of Directors ESGold Corp. "Brad Kitchen" President & Director info@esgold.com +1-888-370-1059
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of applicable securities laws. These statements are based on assumptions and expectations that involve a number of known and unknown risks and uncertainties. Actual results could differ materially. Forward-looking information includes statements regarding the expected use of proceeds, the development and construction timelines of the Montauban Project, future production, and anticipated project milestones. Investors are cautioned not to place undue reliance on these forward-looking statements. All forward-looking information contained in this release is qualified by these cautionary statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
