EnviroGold Global Completes Final Phase of Private Placement
EnviroGold Global Completes Successful Financing
EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF | FSE: YGK), a leader in sustainable mining technology, proudly announces the completion of its final tranche of a private placement. This funding initiative supports the company's mission to convert mine waste into valuable metals and improve environmental outcomes.
Details of the Financing
Recently, EnviroGold secured 17,310,900 units at $0.05 per unit during this fourth tranche, bringing the total gross proceeds to $865,545. Each unit comprises one common share and one full warrant, allowing shareholders to acquire additional shares at a price of $0.08 until April 30, 2026.
Key Financial Highlights
To date, the total funds raised through this financing reach $2,244,279, which is a testament to the investor confidence in EnviroGold's innovative approach. The financing size was adjusted twice due to heightened investor interest, ultimately establishing a cap of $2,250,000.
Looking Ahead with Innovation
CEO David Cam expressed enthusiasm for advancing the NVRO Process, which has significant implications for sustainable mining. This proprietary technology effectively breaks down hazardous sulphides in mine waste, facilitating the recovery of previously trapped metals. This important breakthrough enables mining companies to reduce environmental liabilities.
Operational Goals and Community Impact
The new capital influx will expedite the commissioning of the demonstration plant with two prospective clients in preparation for testing their tailings and waste materials. These tests are set to begin soon, with initial results anticipated late in the year.
Strategic Uses of Proceeds
Funds from this financing will primarily focus on the establishment of the NVRO Clean Leach Process demonstration facility and strengthening customer relationships, along with covering general operational expenses. Furthermore, a portion of the funding will address settled debts, demonstrating responsible financial management.
Ensuring Smooth Operations
EnviroGold maintains a clear strategy for sustaining operations, including compliance with regulatory standards. All issued securities from this financing will undergo a mandatory hold period of four months following the issuance date under applicable laws.
About EnviroGold Global
EnviroGold Global is at the forefront of the mining sector, leveraging innovative technology to extract value from operational waste while minimizing ecological impacts. The company employs a low capital expenditure model based on technology licensing, positioning itself as a dependable leader in the mining technology domain, all while striving to enhance shareholder value.
Frequently Asked Questions
What is EnviroGold Global's primary mission?
EnviroGold aims to monetize valuable metals from mine waste and reduce environmental liabilities through innovative technology.
How much capital did EnviroGold raise in this financing?
EnviroGold raised a total of $2,244,279 through its financing efforts.
What technology does EnviroGold employ?
The company utilizes the NVRO Process, which recovers metals from mine waste and reduces environmental risks.
When are the results from the demonstration plant tests expected?
Initial results from the testing of tailings and waste materials are expected by the end of 2024.
Who can I contact for more information about EnviroGold?
For inquiries, you can contact Mr. Graham Farrell at +1 416 842 9003 or email IR@EnviroGoldGlobal.com.
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