ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) has successfully closed an oversubscribed non-brokered private placement, raising a total of $3,649,171. This financial achievement was realized through the issuance of nearly 5 million units, each priced at $0.73, comprising a common share and a warrant exercisable at $0.91 for a period of 18 months. The funds garnered from this placement are designated for critical projects including the construction of a mill circuit, the final mobilization at the Montauban gold-silver project, and bolstering the company's general working capital.
The private placement attracted a mix of existing and new strategic investors, highlighting the robust confidence in ESGold Corp.'s strategic direction and the Montauban project's promising prospects. In conjunction with the financing, the company issued 226,863 finder’s warrants and disbursed $165,610 in finder’s fees, further cementing the deal's success.
Located 80 kilometers west of Quebec City, the Montauban project stands as a cornerstone for ESGold Corp., embodying the company's dedication to responsible mining. This initiative not only aims for near-term production but also harbors the potential for discoveries on a district scale, aligning with ESGold Corp.'s ethos of sustainable resource recovery and exploration. The project's advancement is a testament to the company's commitment to environmental stewardship and innovation in the mining sector.
For more information on the private placement and the Montauban project, the full press release is available here.
