ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) has announced the successful closure of 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 18 months. The funds raised are designated for critical project developments including mill circuit construction, final mobilization efforts at the Montauban gold-silver project, and general working capital needs.
The private placement attracted both existing and new strategic investors, a testament to the strong confidence in ESGold Corp.'s vision and the Montauban project's promising future. In connection with the financing, the company issued 226,863 finder’s warrants and disbursed $165,610 in finder’s fees, further solidifying the arrangement's success.
Located 80 kilometers west of Quebec City, the Montauban project stands as a cornerstone for ESGold Corp., embodying a commitment to responsible mining practices. This initiative not only aims for near-term production achievements but also holds the promise of district-scale discoveries, aligning with the company's dedication to sustainable resource recovery and exploration.
