E2Gold Inc. announced a private placement that it will issue up to 25,000,000 units at a price of CAD 0.03 per unit for the aggregate gross proceeds of CAD 750,000 on August 25, 2023. Each unit will comprise one common share of the company and one common share purchase warrant, with each whole warrant exercisable to acquire one additional common share at a price of CAD 0.06 for a period of 24 months from the date of issuance thereof. Up to 50% of the offering may be purchased by insiders.

The transaction is subject to various closing conditions including the approval of the TSX Venture Exchange.