EnviroGold Retires Over $10.2 Million in Debt in 2025, Strengthens Balance Sheet as Commercialization Accelerates

Core Insights - EnviroGold Global Limited has successfully converted and retired approximately $10.2 million in debt, which includes $9.1 million in principal and $1.1 million in interest and costs, marking a significant milestone as the company moves towards the commercialization of its proprietary NVRO Process™ [1][3] Debt Conversion Details - The January 2025 Convertible Promissory Notes, with a face value of $4,119,000, have been fully converted into 68,650,446 shares at a price of $0.06 per share, along with an additional 3,192,363 shares issued for interest and costs [2] - The conversion of insider-held Notes, totaling $100,000 in principal, has been included in the overall share issuances [3] Corporate Actions - The company will issue 1,851,852 common shares at a deemed price of $0.135 per share as partial payment for an engagement fee to Cantor Fitzgerald Canada Corporation [4] - An aggregate of 850,000 common shares at a deemed price of $0.115 per share will be issued to the estate of former independent director Harold Wolkin as full compensation for his services [5] Equity Incentives - In connection with the Note conversions, the company issued conversion premiums totaling 1,271,405 shares at a deemed price of $0.15 per share, with all shares subject to a statutory hold period [6] - The company granted 5,637,501 restricted share units (RSUs), 18,500,000 performance share units (PSUs), and 257,000 stock options to directors and officers as part of its Omnibus Equity Incentive Plan [8] Performance Conditions - The stock options are exercisable at a price of $0.14 per share for five years and vested upon issuance, while RSUs will vest in tranches according to individual agreements [9] - PSUs are tied to performance-based milestones, including revenue thresholds and volume-weighted average price (VWAP) targets [10] Company Overview - EnviroGold Global Limited focuses on transforming the mining industry by recovering high-value metals from mine waste and tailings, utilizing its proprietary NVRO Process™ for efficient, low-carbon extraction [14]