EnviroGold Global Announces Private Placement
EnviroGold Global (ESGLF) has announced a non-brokered private placement financing to raise up to CAD$2,500,000 through the issuance of up to 2,500 units at CAD$1,000 per unit. Each unit includes convertible notes and 11,112 warrants. The notes, maturing in 18 months, will bear 10% annual interest and are convertible to common shares at CAD$0.06 per share. Warrants are exercisable at CAD$0.08 per share within 24 months.
The company has secured a lead order from a strategic partner in Australia. The funds will be used to complete a demonstration plant in Perth, which will serve as a testing hub for mining companies to evaluate the company's tailings processing technology. The financing will also support business development and working capital needs.
EnviroGold Global (ESGLF) ha annunciato un finanziamento di collocamento privato non mediato per raccogliere fino a CAD$2.500.000 attraverso l'emissione di fino a 2.500 unità al prezzo di CAD$1.000 per unità. Ogni unità include note convertibili e 11.112 warrant. Le note, che scadranno in 18 mesi, porteranno un interesse annuale del 10% e sono convertibili in azioni ordinarie al prezzo di CAD$0.06 per azione. I warrant sono esercitabili a CAD$0.08 per azione entro 24 mesi.
La società ha ottenuto un ordine principale da un partner strategico in Australia. I fondi saranno utilizzati per completare un impianto dimostrativo a Perth, che fungerà da hub di test per le aziende minerarie per valutare la tecnologia di trattamento dei fanghi dell'azienda. Il finanziamento supporterà anche lo sviluppo commerciale e le necessità di capitale circolante.
EnviroGold Global (ESGLF) ha anunciado una financiación de colocación privada no mediada para recaudar hasta CAD$2,500,000 mediante la emisión de hasta 2,500 unidades a CAD$1,000 por unidad. Cada unidad incluye notas convertibles y 11,112 warrants. Las notas, que vencen en 18 meses, tendrán un interés anual del 10% y son convertibles en acciones comunes a CAD$0.06 por acción. Los warrants son ejercitables a CAD$0.08 por acción dentro de los 24 meses.
La empresa ha asegurado un pedido principal de un socio estratégico en Australia. Los fondos se utilizarán para completar una planta demostrativa en Perth, que servirá como un centro de pruebas para que las empresas mineras evalúen la tecnología de procesamiento de colas de la empresa. La financiación también respaldará el desarrollo empresarial y las necesidades de capital de trabajo.
EnviroGold Global (ESGLF)는 중개인 없이 민간 자금 조달을 통해 최대 CAD$2,500,000를 모금하기 위한 조치를 발표했습니다. 이 자금은 CAD$1,000당 최대 2,500개의 유닛을 발행하여 조달됩니다. 각 유닛은 전환 가능한 채권과 11,112개의 워런트를 포함합니다. 18개월 후 만료되는 채권은 연 10%의 이자를 발생시키며, CAD$0.06당 보통주로 전환 가능합니다. 워런트는 24개월 이내에 CAD$0.08당 행사할 수 있습니다.
회사는 호주에 있는 전략적 파트너로부터 주요 주문을 확보했습니다. 자금은 퍼스에 시연 공장을 완공하는 데 사용될 예정이며, 이는 광산 회사들이 회사의 재서 처리 기술을 평가할 수 있도록 돕는 테스트 허브 역할을 할 것입니다. 이 자금 조달은 또한 비즈니스 개발 및 운영 자본 요구를 지원하는 데 사용됩니다.
EnviroGold Global (ESGLF) a annoncé un placement privé non médié par l'intermédiaire duquel il espère lever jusqu'à CAD$2,500,000 grâce à l'émission de jusqu'à 2,500 unités au prix de CAD$1,000 par unité. Chaque unité comprend des obligations convertibles et 11,112 bons de souscription. Les obligations, arrivant à échéance dans 18 mois, porteront un intérêt annuel de 10% et pourront être converties en actions ordinaires au prix de CAD$0.06 par action. Les bons de souscription sont exerçables à CAD$0.08 par action dans un délai de 24 mois.
La société a obtenu un ordre principal d'un partenaire stratégique en Australie. Les fonds seront utilisés pour achever une usine de démonstration à Perth, qui servira de centre d'essai pour les entreprises minières afin d'évaluer la technologie de traitement des résidus de la société. Le financement soutiendra également le développement commercial et les besoins en fonds de roulement.
EnviroGold Global (ESGLF) hat eine nicht vermittelte Privatplatzierung angekündigt, um bis zu CAD$2.500.000 durch die Ausgabe von bis zu 2.500 Einheiten zu einem Preis von CAD$1.000 pro Einheit zu beschaffen. Jede Einheit umfasst wandelbare Anleihen und 11.112 Warrants. Die Anleihen, die in 18 Monaten fällig werden, tragen einen jährlichen Zinssatz von 10% und sind in Stammaktien zu einem Preis von CAD$0.06 pro Aktie wandelbar. Die Warrants können innerhalb von 24 Monaten zu einem Preis von CAD$0.08 pro Aktie ausgeübt werden.
Das Unternehmen hat einen Hauptauftrag von einem strategischen Partner in Australien gesichert. Die Mittel werden verwendet, um eine Demonstrationsanlage in Perth zu vervollständigen, die als Testzentrum für Bergbauunternehmen dient, um die Technologie zur Verarbeitung von Abraum des Unternehmens zu evaluieren. Die Finanzierung wird auch die Geschäftsentwicklung und die Bedürfnisse des Betriebskapitals unterstützen.
- Secured significant lead order from strategic Australian partner
- Demonstration plant will accelerate commercial decisions through multiple mining companies testing
- 10% interest rate on convertible notes indicates strong investor confidence
- Dilutive financing through convertible notes and warrants at low price points
- High 10% interest rate on notes indicates expensive financing terms
- Additional 6% cash and warrant finder's fees increase cost of capital
TORONTO, Dec. 19, 2024 (GLOBE NEWSWIRE) -- EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF | FSE: YGK) (“EnviroGold,” or the “Company”), a technology company enabling the global mining industry to monetize valuable metals contained in mine waste and tailings, reduce environmental liabilities and improve social and environmental outcomes, is pleased to announce that it plans to complete a non-brokered private placement financing (the “Financing”) for up to CAD
All Notes will have a maturity date of eighteen months from the date of issue and will bear interest from their date of issue at
The Notes will be convertible, at the option of the holders at any time prior to maturity, into Common Shares at a conversion price of CAD
The Company shall be entitled to prepay all or any portion of each of the Notes with a prepayment fee payable to each noteholder of
CEO David Cam stated, “We are pleased to report the Company has secured a significant lead order under this Financing from a strategic partner in Australia, with a commitment for ongoing support. This private placement will enable the Company to complete its previously announced demonstration plant in Perth, Western Australia. The plant will serve as a central testing hub for multiple mining companies, showcasing our technology on their tailings material and accelerating commercial decisions. Additionally, the funds from this financing will support business development, general working capital, and associated financing costs.”
The Company has engaged the services of Sequoia Corporate Finance Pty. Ltd. (“Sequoia”) to assist the Company with the Financing. The Company will pay Sequoia and other registered dealers a finders fee of
The Company also announces that has issued an aggregate of 950,000 stock options to officers and consultants of the Company pursuant to its stock option plan. The stock options are exercisable to acquire Common Shares of the Company at a price of
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About EnviroGold Global
EnviroGold Global is a technology company enabling the global mining industry to monetise valuable metals from mine waste and tailings and reduce environmental liabilities. EnviroGold’s proprietary technology is at the leading edge of demand for precious and critical metals and greater social demand for better environmental outcomes. The Company operates on a technology license fee model with low capex requirements and intends to establish itself as a leading global technology company focussed on shareholder value.
Contact
Mr. David Cam, CEO
Telephone: +1 416 842 9003
Email: InvestorRelations@EnviroGoldGlobal.com
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws, including, without limitation, earnings guidance, economic guidance, operational guidance and future capital spending amounts. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements pertaining to the use of funds from the Financing and the anticipated closing date of the Financing, and the Company’s ability to accelerate the world’s transition to a circular resource economy. Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the continued commercial viability and growth in the clean technology and mining waste reprocessing industry; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued development of clean technology and mining waste reprocessing technology; and the continued growth of the Company. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the Company’s inability to accelerate the world’s transition to a circular resource economy, the risks associated with assessing metallurgical recovery rates from mine tailings and waste and related volumetric assessments, the risks associated with the mining and mining waste recycling industry in general; increased competition in the clean technology and waste reprocessing market; the potential unviability of the clean technology and mining waste reprocessing market; incorrect assessment of the value and potential benefits of various transactions; risks associated with potential governmental and/or regulatory action with respect to clean technology and mining waste reprocessing; risks associated with a potential collapse in the value of clean technology and waste reprocessing; and risks relating to the Company’s potential inability to expand its reprocessing pipeline.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
FAQ
What are the terms of EnviroGold Global's (ESGLF) December 2024 private placement?
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