ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) has announced a non-brokered private placement of up to 5.3 million flow-through common shares at C$0.85 per share, raising up to C$4.5 million. The offering, increased from the initially announced C$2.9 million due to strong investor demand, is expected to close on or about December 8, 2025, subject to regulatory approvals including the Canadian Securities Exchange. Red Cloud Securities Inc. will act as a finder in connection with the offering (https://ibn.fm/3KZWH).
Proceeds from the placement will be allocated to Canadian exploration expenses, primarily targeting the Montauban Property in Quebec. The company recently completed a comprehensive three-dimensional geological model of the property, which revealed that Montauban may represent a continuous multilayered mineral system with dimensions not previously recognized. According to ESGold’s CEO and Director, Gordon Robb, "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" (https://ibn.fm/3Dywr).
This private placement marks a strategic shift for ESGold, which has historically financed exploration internally through near-term cash flow from tailings reprocessing. While that approach minimized dilution, the company now aims to accelerate the unlocking of Montauban’s full gold potential. The property benefits from existing infrastructure, including C$15 million invested in power access, roads, and a 20,000 sq. ft. processing facility, underscoring ESGold’s confidence in its economic viability.
Further exploration is expected to delineate the extent of the deposits and provide a clearer picture of the property’s value, ultimately creating shareholder value. The offering is part of ESGold’s broader strategy to establish itself as a leader in mineral exploration, leveraging the Montauban Property as a cornerstone asset.
