ESGold completes $4.5 million flow-through share placement

ESGold Corp. (CSE: ESAU) announced the completion of a non-brokered private placement, issuing 5.3 million flow-through common shares at $0.85 per share for gross proceeds of $4.5 million.

The company plans to use the funds for exploration activities at its Montauban Property in Quebec. The proceeds will qualify as Canadian exploration expenses under the Income Tax Act and must be spent by December 31, 2026, with renunciation to shareholders by December 31, 2025.

Red Cloud Securities Inc. served as finder for the offering and received a cash fee of $315,350. All securities issued are subject to a four-month hold period ending April 9, 2026, in accordance with securities legislation.

The placement follows the company's November 27, 2024 announcement of the proposed offering. ESGold describes itself as a pre-production mining company with its flagship Montauban Gold-Silver Project in Quebec under construction, with production anticipated in 2026.

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