ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF), an exploration-stage company, has announced a non-brokered private placement of up to 5.3 million flow-through common shares at C$0.85 per share, raising approximately C$4.5 million. Due to strong investor demand, the offering was increased from the previously announced C$2.9 million. Red Cloud Securities Inc. will act as a finder in connection with the offering (https://ibn.fm/3KZWH).
Proceeds from the offering will be directed toward exploration of the company's Montauban Property in Quebec. The company views this property as a significant opportunity, with potential beyond a simple reclamation or redevelopment story. Last month, ESGold completed a comprehensive three-dimensional geological model of the property, revealing a continuous multilayered mineral system with dimensions not previously recognized (https://ibn.fm/3Dywr).
“What was once seen as a series of small, isolated deposits now seems to emerge as a continuous multilayered mineral system with dimensions not previously recognized at Montauban,” said Gordon Robb, CEO and Director of ESGold (https://ibn.fm/3Dywr).
Further exploration is expected to delineate the extent of the deposits and provide a clearer picture of the property's value. The offering is set to close on or about December 8, 2025, subject to regulatory approvals, including from the Canadian Securities Exchange. The flow-through shares will qualify as Canadian exploration expenses.
ESGold has demonstrated near-term cash flow from tailings reprocessing, which has allowed the company to finance exploration internally while minimizing dilution. However, this private placement accelerates the timeline to unlock Montauban's full potential. The company has already invested C$15 million in infrastructure, including power access, roads, and a 20,000 sq. ft. processing facility, underscoring its confidence in the property's economic viability.
For more information, visit the company’s website at www.ESGold.com.
