ESGold Corp. announced a non-brokered private placement of 10,690,000 flow-through units at an issue price of CAD 0.05 per unit for gross proceeds of CAD 534,500 and 500,000 share units at an issue price of CAD 0.05 per unit for gross proceeds of CAD 25,000 for aggregate gross proceeds of CAD 559,500 on December 30, 2022. The transaction included participation from directors and management of the company for an aggregate CAD 55,000.

Each flow-through unit comprises of one common share and one-half common share purchase warrant s exercisable into one common share at a price of CAD 0.075 per share for a period of 12 months from the date of closing. Each share unit comprises of one common share and one common share purchase warrant exercisable into one common share at a price of CAD 0.075 per share for a period of 12 months from the date of closing. All securities issued in connection with offering are subjected to a restricted hold period of four months and a day from the date of closing of the offering, under applicable securities legislation.

In connection with the closing of the offering, the company paid an aggregate finders' fees of CAD 21,630 in cash and issued 362,600 common share purchase warrants to certain arms-length finders. Each finder's warrant entitles the holder to purchase one common share of the company at a price of CAD 0.075 per share for a period of 12 months from the date of closing.