ESGold Closes C$1.1 Million in Strategic Funding Through Warrant Exercises and Concurrent Flow-Through Private Placement

Rhea-AI Summary

ESGold Corp (CSE: ESAU, OTCQB: SEKZF) has successfully raised C$1.1 million through a combination of strategic funding initiatives. The funding comprises a C$300,000 Quebec Critical Mineral flow-through private placement and C$802,851.90 from warrant exercises.

The private placement involves 1,000,000 flow-through common shares at C$0.30 per share, with Maple Leaf Critical Minerals 2025 Enhanced Flow-Through LP as the sole investor. The company will pay C$18,000 in finder's fees, with the offering expected to close around February 21, 2025.

Following the December 19, 2024 warrant acceleration clause exercise, 5,352,346 warrants were exercised. The proceeds will fund the ANT Geological Survey with Caur Technologies and exploration initiatives at the Montauban Property in Quebec.

Vancouver, British Columbia--(Newsfile Corp. - February 14, 2025) - ESGold Corp. (CSE: ESAU) (OTCQB: SEKZF) (FSE: Z7D) ("ESGold" or the "Company") is pleased to announce that the Company has raised C$1.1 million through a combination of a flow-through private placement and warrant exercises, demonstrating strong shareholder support and continued confidence in ESGold's development and exploration strategy.

The Company is proceeding with a private placement of 1,000,000 Quebec Critical Mineral flow-through common shares (the "FT Shares") at C$0.30 per FT Share, for gross proceeds of C$300,000 (the "Offering").

This Offering is being placed with one investor, Maple Leaf Critical Minerals 2025 Enhanced Flow-Through LP. The Company will pay finder's fees of C$18,000 to eligible finders in connection with the Offering.

The Offering is expected to close in five days (5) on or about February 21, 2025, subject to various closing conditions, including receipt of all necessary corporate and regulatory approvals, including the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a statutory four-month plus one day hold period from the date of issuance, in accordance with applicable securities laws.

Proceeds from the Offering will be used to fund the recently announced ANT Geological Survey with Caur Technologies and other related exploration initiatives at the Company's Montauban Property in Quebec.

Warrant Exercises Generate C$802,851 in Additional Funding

In addition to the Offering, ESGold is pleased to announce that following the December 19, 2024, exercise of the warrant acceleration clause related to the September 2024 Private Placement, a total of 5,352,346 warrants were exercised, generating additional proceeds of C$802,851.90.

"The strong response to our warrant acceleration from existing shareholders, combined with the strategic flow-through funding, reflects a high level of confidence in ESGold's path forward," said Brad Kitchen, President of ESGold. "This combined funding of over C$1.1 million will support our continued advancement toward production and exploration success at Montauban."

Qualified Person Statement

The technical information in this news release has been reviewed and approved by Andre Gauthier, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About ESGold Corp.

ESGold Corp. (CSE: ESAU) (OTCQB: SEKZF) (FSE: Z7D) is a fully permitted, pre-production resource company at the forefront of clean mining and exploration innovation. With proven expertise in Quebec, the Company is advancing its projects toward production and feasibility while delivering long-term value through sustainable resource recovery and exploration. ESGold's flagship Montauban property, located 80 kilometers west of Quebec City, serves as a model for responsible mining practices, combining near-term production with exploration potential.

For more information, please contact ESGold Corp. at +1-888-673-1231 or visit esgold.com for additional resources, including a French version of this press release, past news releases, a 3D model of the Montauban pilot processing plant, media interviews, and opinion-editorial pieces.

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On behalf of the Board of Directors,

ESGold Corp.
"Brad Kitchen"
President, Director
Tel: +1-888-673-1231
Email: info@esgold.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241032

FAQ

How much did ESGold (SEKZF) raise in its February 2025 funding round?

ESGold raised a total of C$1.1 million through a combination of a C$300,000 flow-through private placement and C$802,851.90 from warrant exercises.

What is the price per share for ESGold's (SEKZF) February 2025 flow-through offering?

The flow-through shares were priced at C$0.30 per share.

How many warrants were exercised in ESGold's (SEKZF) December 2024 acceleration?

A total of 5,352,346 warrants were exercised following the December 19, 2024 warrant acceleration clause.

What will ESGold (SEKZF) use the C$1.1 million funding for?

The proceeds will fund the ANT Geological Survey with Caur Technologies and other exploration initiatives at the Company's Montauban Property in Quebec.

When is ESGold's (SEKZF) February 2025 flow-through offering expected to close?

The offering is expected to close in five days, on or about February 21, 2025.

Who is the investor in ESGold's (SEKZF) C$300,000 flow-through private placement?

Maple Leaf Critical Minerals 2025 Enhanced Flow-Through LP is the sole investor in the flow-through private placement.