EnviroGold Closes First Tranche of Non-Brokered Private Placement and Confirms Strong Momentum Toward Final Tranche

Core Viewpoint - EnviroGold Global Limited has successfully closed the first tranche of its non-brokered private placement, raising gross proceeds of C$2,201,276 through the issuance of 24,458,626 units at a price of C$0.09 per unit, which reflects strong investor confidence in the company's technology and strategy [1][2][3]. Financing Details - The first tranche consists of units that include one common share and one transferable common share purchase warrant, allowing the holder to acquire an additional common share at C$0.13 for three years [2]. - The overall offering aims to raise C$5 million, with additional tranches already in progress [4][5]. - Proceeds from this tranche will be used to accelerate the company's technology platform and commercial roadmap, including debt reduction and general working capital [4][10]. Investor Participation - Certain directors subscribed for a total of 923,185 units, contributing gross proceeds of C$83,086.65, which is classified as a related party transaction [7]. - The company is relying on exemptions from minority shareholder approval and formal valuation requirements for this related party transaction [7]. Regulatory and Compliance - All securities issued in connection with the first tranche are subject to a statutory hold period of four months and one day, expiring on February 2, 2026 [6]. - The securities have not been registered under the U.S. Securities Act and cannot be offered or sold in the U.S. without registration or an exemption [8]. Company Overview - EnviroGold Global is focused on enabling the mining industry to monetize valuable metals from mine waste and tailings while reducing environmental liabilities [11]. - The company operates on a technology license fee model with low capital expenditure requirements, aiming to establish itself as a leading global technology company [11].