ESGold Corp. has completed a non-brokered private placement of flow-through common shares, generating aggregate gross proceeds of $4,505,000. The company issued 5,300,000 shares at $0.85 per share, with Red Cloud Securities Inc. acting as a finder and receiving an aggregate cash finder's fee of $315,350. This financing follows the company's announcement several weeks earlier of its intention to proceed with the private placement.
The capital raised is designated specifically to fund exploration activities at ESGold's Montauban property in Quebec. This allocation underscores the company's strategic focus on advancing this particular asset, which represents a significant component of its portfolio of high-quality mineral properties. The timing of this financing enables ESGold to accelerate its exploration programs during favorable field conditions.
Simultaneously, ESGold has engaged Atrium Research Corporation to provide research and publication services focused on the investment case for the company. This engagement, which will run for twelve months, represents a strategic move to enhance market understanding of ESGold's assets and growth potential. The research reports are expected to provide investors with detailed analysis of the company's exploration projects and development strategy.
The combination of substantial new funding and professional research support positions ESGold to execute its exploration plans more effectively while potentially increasing its visibility within the investment community. For investors following the mining sector, this development signals ESGold's progress in securing necessary capital for property advancement while taking steps to improve market communication about its assets and strategy. The successful completion of this financing represents a significant milestone for ESGold as it works to advance its exploration objectives in Quebec's mineral-rich regions.
