ESGold Corp. has completed a non-brokered private placement of 5.3 million flow-through shares at $0.85 per share, raising gross proceeds of $4,505,000. The company stated the funds will be directed toward exploration activities at its Montauban Property in Quebec. According to the announcement, the proceeds qualify as Canadian Exploration Expenses under federal and provincial tax rules, with expenditures to be incurred by December 31, 2026, and renounced to investors effective no later than December 31, 2025. This capital raise supports ESGold's development of its flagship Montauban Gold-Silver Project, which is currently under construction with production anticipated in 2026. The company describes itself as a fully permitted and funded pre-production mining company advancing a scalable clean mining model across North and South America.
The financing involved Red Cloud Securities as a finder, with the company paying $315,350 in cash finder fees. All securities issued are subject to a statutory hold period of four months and one day, ending on April 9, 2026. The implications of this financing are significant for ESGold's operational timeline, providing specific capital earmarked for exploration that benefits from flow-through tax mechanisms designed to encourage mineral exploration in Canada. By securing $4.5 million, the company moves closer to its production goal at Montauban while continuing to develop its Colombian assets. The transaction highlights ongoing investor interest in precious metals projects in established mining jurisdictions like Quebec, where the company holds its flagship asset.
Beyond the Montauban project, ESGold is also progressing a joint venture in Colombia focused on tailings reprocessing and systematic exploration in a region known for gold production. The company characterizes its strategy as a dual-track approach aiming for cash flow generation in the near term alongside long-term discovery potential. For additional resources, including past news releases and a 3D model of the Montauban processing plant, the company maintains an online presence at https://ibn.fm/pRKXo. The private placement news was disseminated through MiningNewsWire, a specialized communications platform within the IBN brand portfolio that focuses on the global mining and resources sectors.
