VANCOUVER, BRITISH COLUMBIA – July 21, 2022 – ESGold Corp. (“ESGold” or the “Company”) (CSE: ESAU, Frankfurt: N4UP, OTC: SEKZF) is pleased to announce that the Company has entered into a memorandum of understanding (the “MOU”) with G.E.T.T. Gold Ltd. (“GETT Gold”) to establish a working relationship on the Company’s Montauban Project.
In exchange for the storage and use of heavy-duty industrial equipment, such as compressors, and a $250,000 investment in the Company by way of a convertible debenture, ESGold will provide GETT Gold the ability to test its proprietary mineral recovery technology on the surface and underground at Montauban under specific terms and conditions. In addition, ESGold will offer preferential scheduling of custom milling services to GETT Gold at a rate that is 15% below the then current fair market value as determined and agreed to in advance by both parties once the processing mill at Montauban is in full production mode.
In other corporate news, ESGold has closed the private placement announced on June 15, 2022. In this second and final tranche, the Company raised gross proceeds of $324,500 by way of an issuance of 6,490,000 units at a purchase price of $0.05 per unit. Each unit is comprised of one common share and one-half warrant that when combined to form a whole warrant, the holder will be able to purchase one (1) common share at a price of $0.10. The warrant has a term of twelve (12) months from the closing date of this tranche of the private placement.
In connection with the closing of this final tranche of the offering, the Company paid an aggregate finders’ fee of $20,300 in cash and issued 308,000 share purchase warrants to certain arms-length finders. Each finder’s warrant entitles the holder thereof to purchase one common share of the Company at $0.10 and expires twelve (12) months from the date of closing of this tranche of the offering. All securities issued in connection with this offering are subjected to a restricted hold period of four (4) months and a day from the date of closing of this tranche of the offering, under applicable securities legislation.
Pour une traduction française de ce communiqué de presse, veuillez visiter notre site Web à www.esgold.com.
About the Company
ESGold Corp. 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 kilometers west of Quebec City. Recently, the Company has also entered into a joint venture agreement to determine the presence of recoverable metals in the Ottawa River, consistent with ESGold’s commitment to environmental recovery solutions. The Company’s main exploration focus is its 100% ownership of the Eagle River project, which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec.
For more information on ESGold Corp. please contact the Company (+1 514-712-1532) or visit the website www.esgold.com for the French version of this news release, past news releases, 3D model of the Montauban processing plant, media interviews and opinion-editorial pieces.
On behalf of the Board of Directors,
“Jean Yves Therien”
Chief Executive Officer
Tel: +1 514-712-1532
This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.