ESGLF - EnviroGold Global Closes Second Tranche of Private Placement and Increases Size of Offering Due to Investor Interest | Benzinga
TORONTO, July 02, 2024 (GLOBE NEWSWIRE) -- EnviroGold Global Limited (CSE:NVRO, OTCQB:ESGLF, FSE: YGK)) ("EnviroGold," or the "Company"), a technology company enabling the global mining industry to monetize valuable metals contained in mine waste and tailings, reduce environmental liabilities and improve social and environmental outcomes, is pleased to announce that it has closed the second tranche of a $1,000,000 non-brokered private placement (the "Offering"). The second tranche of the Offering consisted of 2,240,000 units of the Company (the "Units") issued at a price of $0.05 per Unit for aggregate proceeds of C$112,000. Each Unit consists of one common share (each a "Common Share") and one warrant exercisable to acquire one additional Common Share at a price of $0.08 until April 30, 2026.
Together with the Company's closing of the first tranche of the Offering, the Company has raised aggregate gross proceeds of $842,000. The Company is also pleased to advise that it has increased the size of the Offering to $2.0 million as result of continued investor interest in the Company. The remainder of the Offering may close in one or more tranches, at the discretion of the Company.
The proceeds from the Offering will be used to accelerate the establishment of the NVRO Clean Leach Process demonstration facility in Brisbane, Australia, to advance customer relationships, and for general operating expenses.
All securities issued in connection with the Offering are subject to a statutory hold period of four months and a day from issuance pursuant to applicable securities laws of Canada. No finder's fees were paid on the second tranche of the Offering.
About EnviroGold Global
EnviroGold Global is a technology company enabling the global mining industry to monetise valuable metals from mine waste and tailings and reduce environmental liabilities. EnviroGold's patented proprietary technology is at the leading edge of demand for precious and critical metals and greater social demand for better environmental outcomes. The Company operates on ...