ESGold Enters into an Agreement to Monetize its Eagle River Exploration Project
VANCOUVER, BRITISH COLUMBIA – TheNewswire - November 28, 2022 – ESGold Corp. (“ESGold” or the “Company”) (CSE:ESAU), (Frankfurt:N2W), (OTC:SEKZF) is pleased to announce that it has entered into an agreement with Sennen Potash Corp (TSXV: SN) (“Sennen”) to sell its Eagle River Exploration Project in exchange for 11.25 million Flow-Through shares of Sennen at a value of $0.20 per share and a cash payment of $50,000 for a total compensation of C$2.3 million.
The shares are subject to a two (2) year escrow provisions as follows:
15% issued upon close of the transaction (subject to a four (4) month regulatory hold);
15% issued six (6) months after close of the transaction;
15% issued twelve (12) months after close of the transaction;
30% issued eighteen (18) months after close of the transaction; and
25% issued twenty-four (24) months after the close of the transaction.
The transaction is subject to regulatory approval.
Pour une traduction française de ce communiqué de presse, veuillez visiter notre site Web à www.esgold.com.
About the Company
ESGold Corp. is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. ESGold’s principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometers west of Quebec City. Recently, the Company has also entered into a joint venture agreement to determine the presence of recoverable metals in the Ottawa River, consistent with ESGold’s commitment to environmental recovery solutions.
For more information on ESGold Corp. please contact the Company (+1 514-712-1532) or visit the website www.esgold.com for the French version of this press release, for past news releases, 3D model of the Montauban processing plant, media interviews and opinion-editorial pieces. To keep up with what's going on with ESGold please join our shareholders chat room on telegram :https://t.me/+SQeyLoDRjIAwMDVh
On behalf of the Board of Directors,
“Jean Yves Therien”
Chief Executive Officer
Tel: +1 514-712-1532
This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.