Evergold Corp. Completes $5.4 Million Private Placement

Toronto-based Evergold Corp. has announced the successful closure of its non-brokered private placement, raising total gross proceeds of $5,406,347.45. The financing involved the sale of 6,612,758 hard-dollar units at $0.55 each, totaling $3,637,016.90, and 2,722,047 flow-through shares at $0.65 each, generating $1,769,330.55. These funds are earmarked for exploration expenses on Evergold's Canadian properties, particularly the Golden Lion Project.

Part of the Offering's proceeds will go towards "Canadian exploration expenses" under the Income Tax Act of Canada. Additionally, insiders such as CEO Alex Walcott and Executive Chairman Charles Greig participated in the offering. Regulatory approval from the TSX Venture Exchange is pending, with issued securities subject to a four-month holding period.