ESGold Corp. has successfully completed a non-brokered private placement, raising gross proceeds of C$3,453,940.38. This financial achievement was realized through the issuance of over 16 million common shares and warrants, marking a significant milestone for the company. The funds are earmarked for critical development activities at the Montauban Gold-Silver Project, a key asset located in Quebec. This project is not only a testament to ESGold's commitment to responsible mining practices but also represents a significant opportunity for near-term production and long-term exploration success.
The private placement saw notable participation from management and insiders, who collectively invested in 1.25 million units. This level of internal investment is a strong indicator of confidence in the company's strategic direction and the potential of the Montauban property. Situated 80 kilometers west of Quebec City, the Montauban project is fully permitted and poised to become a model for responsible mining. It combines the immediate potential for production with extensive opportunities for district-scale exploration, making it a cornerstone of ESGold's operations in Quebec.
The proceeds from this financing will be specifically allocated towards mill circuit construction and final mobilization efforts. This targeted approach underscores ESGold's strategic commitment to advancing the Montauban project efficiently. By focusing on these critical areas, the company aims to accelerate progress towards production, leveraging the project's potential to contribute significantly to Quebec's mining sector. The successful completion of this private placement not only demonstrates ESGold's ability to secure necessary capital but also positions the company for meaningful advancements in its Quebec-based operations. For more information on ESGold Corp. and its projects, visit https://www.esgold.com.
