Esgold Cancels LIFE Financing, Arranges Unit Financing

Further to the company’s news release dated July 24, 2024, Esgold Corp. will not be proceeding with the $500,000 non-brokered private placement offering pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106.

The company will now be proceeding with a non-brokered private placement of up to five million units at a price of 10 cents per unit for aggregate gross proceeds of up to $500,000. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of 15 cents per common share for a period of 12 months from the closing date, subject to an acceleration clause in the event the trading price of the shares equals or exceeds 25 cents for a period of 10 consecutive days.

The company expects to pay finders’ fees in connection with offering to certain eligible finders in the form of: (i) a cash commission of 8.0 per cent of the gross proceeds raised under the offering from investors introduced to the company by the finder; and (ii) the issuance of such number of non-transferable common share purchase warrants of the company equal to 8.0 per cent of the units issued under the offering from investors introduced to the company by the finder.

The company intends to use the proceeds raised from the offering for general administrative company expenses and for maintenance of the Montauban property asset located in Quebec, Canada. The offering is expected to close on or before Aug. 31, 2024. The offering is subject to certain conditions, including, but not limited to, receipt of all necessary approvals, including the approval of the Canadian Securities Commission.

About Esgold Corp.

Esgold is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. Esgold ‘s principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometres west of Quebec City.

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