EnviroGold Global Provides Update on Private Placement
EnviroGold Global Limited (OTCQB: RGOZF) announced an update on its Private Placement, initially revealed on March 3, 2022. The offering is substantially subscribed with room for oversubscription, set to close its second tranche by April 6, 2022. The terms have been enhanced to include one half of a warrant per common share. The company issued 2,815,170 common shares at $0.41 per share in the first tranche, raising $1,154,219.66, and will issue an additional 1,407,585 warrants. All securities are subject to a four-month hold period.
- Private Placement is substantially subscribed, indicating strong investor interest.
- Enhanced terms include warrants, adding value for investors.
- Successful first tranche raised over $1.15 million.
- No significant new contract announcements or project updates provided.
TORONTO, March 25, 2022 (GLOBE NEWSWIRE) -- EnviroGold Global Limited (CSE: NVRO | OTCQB: RGOZF |FSE: YGK) (“EnviroGold Global” or the “Company“), a Clean Technology Company accelerating the world’s transition to a circular-resource economy through the production of Metals Without Mining, is pleased to provide an update on the previously announced private placement (the “Private Placement”).
The Company is pleased to announce that the Private Placement announced March 3, 2022 is substantially subscribed and has capacity for oversubscription at the Company’s discretion. EnviroGold Global intends to close the second tranche of the substantially subscribed Private Placement on or before April 6, 2022.
The Company has enhanced the terms of the Private Placement by adding one half of a warrant per Common Share. The revised offering will consist of units (each a “Unit”) that includes one share of common stock at a price of
Consistent with the enhancements to the Private Placement, EnviroGold Global has amended the first tranche of the non-brokered Private Placement that closed on March 3, 2022 for gross proceeds of
All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months plus one day from closing. Finder’s fees will be paid to qualified parties in connection with the Private Placement.
About EnviroGold Global
EnviroGold Global (CSE: NVRO) (OTCQB: RGOZF) (FSE: YGK), is a CleanTech company dedicated to creating shareholder value while establishing ESG & circular economy leadership by profitably reprocessing & remediating mine waste (tailings) to recover precious, critical & strategic metals – including gold, silver, copper & nickel. Led by CEO Dr. Mark Thorpe, the Company is strategically positioned to earn and maintain social license while capitalizing the estimated US
The Company’s commercial strategy involves identifying, qualifying and developing tailings reprocessing opportunities, generally targeting tailings sites with at least 6M metric tonnes of tailings and gross recoverable metal value of
EnviroGold Global acquires the metal recovery rights to tailings sites by leveraging a profit share business model to create an attractive value proposition for site owners. The Company’s low-CAPEX business model is designed to generate high free-cash flow & high target IRR while eliminating the risks of traditional exploration and extraction. The Company expects to produce metals with a carbon footprint up to
As of January 2022, the Company has eight major projects in its global project pipeline including two major projects under definitive contracts and six additional major projects at various stages of commercial negotiation and detailed technical/economic review.
The Company expects to commence production of precious metals (gold and silver), clean energy metals and battery metals (copper, lead, zinc) in 2022 and is targeting seven major projects in commercial production by 2025.
Additional information can be found on the Company’s website (link) and publicly available corporate presentation (link)
Further Information
Dr. Mark B. Thorpe
Chief Executive Officer
Telephone: +1 416 777 6720
Email: mark.thorpe@envirogoldglobal.com
Juan Carlos Giron Jr.
Sr. Vice President
Telephone: +1 416 777 6720
Email: juan.giron@envirogoldglobal.com
Website: www.EnviroGoldGlobal.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. There is no relationship between the Company and the World Resources Institute or the Greenhouse Gas Portal and nothing in this news release should be interpreted as suggesting an endorsement by the World Resources Institute or the Greenhouse Gas Portal.
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.
Graphical representations included in this news release are approximate representations which may vary from defined regulatory boundaries.
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 regarding the expected terms of the Hellyer Tailings Reprocessing Project and its completion, the Company’s working relationship with the owner(s) of the Hellyer Tailings, the economic viability of the Hellyer Tailings Reprocessing Project and statements regarding any residual precious metals as a by-product of the remediation, the Company’s expansion of its reprocessing pipeline, 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 details are available about the Private Placement for RGOZF?
What is the subscription price for the common shares in the Private Placement for RGOZF?
What are the terms of the warrants associated with the Private Placement for RGOZF?
How much did the first tranche of the Private Placement raise for RGOZF?
Are there any hold periods for the securities issued in the Private Placement for RGOZF?
