ESGold Corp. has increased the maximum gross proceeds of its planned non-brokered private placement to $4,505,000 following strong investor interest. The company is now offering up to 5.3 million flow-through shares at $0.85 each, with Red Cloud Securities acting as exclusive finder. The decision to raise the placement maximum reflects heightened market confidence in the company's exploration strategy and the underlying value of its assets.
Proceeds from the offering will be used to fund exploration activities at the Montauban Property in Quebec. These funds will be allocated to Qualifying Expenditures under applicable federal and provincial tax rules, providing tax benefits to investors through the flow-through share mechanism. This structure is designed to encourage investment in mineral exploration by allowing companies to transfer tax deductions to shareholders.
The closing of the private placement is expected on or about Dec. 8, 2025, pending regulatory approvals. All securities issued will be subject to a statutory hold period of four months plus one day from the date of closing. This financing round underscores the ongoing investor appetite for resource projects in established mining jurisdictions like Quebec, which is known for its supportive regulatory framework and rich mineral endowment.
ESGold Corp.'s Montauban property is located approximately 80 kilometers west of Quebec City. The company describes the property as a model for responsible mining practices, combining near-term production potential with district-scale discovery opportunities. The additional capital will enable accelerated exploration efforts, which could lead to further resource definition and enhance the project's economic viability. For more information, the full press release is available at https://ibn.fm/CShtE.
The involvement of Red Cloud Securities as finder highlights the professional brokerage support behind the offering. Flow-through share financings are a critical tool for Canadian junior mining companies, allowing them to raise capital for exploration while offering investors tax advantages. This increased financing capacity positions ESGold to advance its technical programs and potentially deliver on its stated goal of sustainable resource recovery. Updates relating to the company are available in its newsroom at https://ibn.fm/ESAUF.
