ESGold announces C$2.975 million flow-through share private placement

ESGold Corp. (CSE: ESAU) announced plans to conduct a non-brokered private placement of up to 3.5 million flow-through common shares at C$0.85 per share for gross proceeds of up to C$2.975 million.

The company will use proceeds to fund exploration activities at its Montauban Property in Quebec. Red Cloud Securities Inc. will serve as a finder in connection with the offering.

The gross proceeds will be used for Canadian exploration expenses that qualify as flow-through mining expenditures under Canada's Income Tax Act and Quebec's Taxation Act. These qualifying expenditures must be incurred by December 31, 2026 and renounced to purchasers with an effective date no later than December 31, 2025.

ESGold may pay finder's fees to eligible finders in connection with the offering. The offering is expected to close on or about December 8, 2025, subject to corporate and regulatory approvals, including approval from the Canadian Securities Exchange.

All securities issued will be subject to a statutory hold period of four months plus one day from the date of issuance under applicable securities legislation.

ESGold operates the Montauban Gold-Silver Project in Quebec, which the company states is under construction with production anticipated in 2026. The company also has operations in Colombia focused on tailings reprocessing and exploration activities.

The information is based on a company press release statement.

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