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

Core Viewpoint - EnviroGold Global Limited has successfully converted and retired approximately $10.2 million in debt, marking a significant milestone as it moves towards the commercialization of its proprietary NVRO Process™ [1][3]. Debt Conversion and Financial Position - The company fully converted $4,119,000 in Convertible Promissory Notes into 68,650,446 shares at $0.06 per share, with additional shares issued for interest and costs [2]. - The retirement of all convertible and promissory liabilities results in a clean balance sheet, positioning the company for future growth [3]. Insider Transactions - Two insiders converted a total of $100,000 in principal of the Notes into common shares, which is classified as a related-party transaction under MI 61-101 [3]. - The company is relying on exemptions from formal valuation and minority shareholder approval requirements due to the fair-market value of the securities issued not exceeding C$2,500,000 [3]. Corporate Matters - 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 will be issued to the estate of former director Harold Wolkin in recognition of his services [5]. Equity Awards and Incentives - The company issued conversion premiums totaling 1,271,405 shares at a deemed price of $0.15 per share in connection with the Note conversions [6]. - On November 6, 2025, 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 incentive compensation [8]. Performance Conditions - The Options are exercisable at $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].