TORONTO, Feb. 21, 2025 (GLOBE NEWSWIRE) -- EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF | FSE: YGK) (“EnviroGold,” or the “Company”), a clean technology company that monetises mine waste and tailings while reducing environmental and social liabilities, announces the successful closing of the first tranche of its private placement, raising $3.68 million. The Company has strategically allocated these proceeds to fully settle Convertible Notes totaling $3.02 million, significantly improving its balance sheet and enhancing financial flexibility for future growth initiatives.
This achievement marks another milestone in EnviroGold’s ongoing transformation under the leadership of CEO, David Cam who took the helm in April 2024. Since this leadership transition, the Company has demonstrated outstanding market performance, achieving a compound annual growth rate (CAGR) of 373% in its share price, delivering real returns of 317% for investors. This growth reflects strong execution of the Company’s strategy, increasing investor confidence, and the strengthening of its financial position.
“With the successful settlement of our Convertible Notes and the injection of fresh capital, EnviroGold is now in a robust financial position to accelerate our strategic initiatives,” said David Cam, CEO of EnviroGold Global. “We remain steadfast in our mission to unlock the value of sustainable resource recovery, leveraging innovative technologies to generate long-term value for our shareholders and stakeholders alike.”
EnviroGold’s continued momentum underscores its commitment to responsible growth and operational excellence. The Company is accelerating the development of its Strategic Relationships and customer engagement, further reinforcing its first mover advantage and leadership position in the green mining and resource recovery sector.
As EnviroGold moves forward with a strengthened financial foundation, the Company remains dedicated to executing its growth plans and delivering sustainable value. Investors and stakeholders can expect continued innovation, strategic partnerships, and disciplined capital management as EnviroGold advances its vision for a cleaner, more sustainable future.
About EnviroGold Global
EnviroGold Global is a technology company enabling the global mining industry to monetise valuable metals from mine waste and tailings and reduce environmental liabilities. EnviroGold’s proprietary technology is at the leading edge of demand for precious and critical metals and greater social demand for better environmental outcomes. The Company operates on a technology license fee model with low capex requirements and intends to establish itself as a leading global technology company focussed on shareholder value.
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Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws, including, without limitation, earnings guidance, economic guidance, operational guidance and future capital spending amounts. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to, the size of the Offering, the completion and terms of the Offering, the use of the proceeds from the Offering, completion of any additional tranches of the Offering, statements about the Company’sexpectation of future commercial success and growth in its market position, and the Company’s ability to accelerate the world’s transition to a circular resource economy. Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the continued commercial viability and growth in the clean technology and mining waste reprocessing industry; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued development of clean technology and mining waste reprocessing technology; and the continued growth of the Company. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the Company’s inability to accelerate the world’s transition to a circular resource economy, the risks associated with assessing metallurgical recovery rates from mine tailings and waste and related volumetric assessments, the risks associated with the mining and mining waste recycling industry in general; increased competition in the clean technology and waste reprocessing market; the potential unviability of the clean technology and mining waste reprocessing market; incorrect assessment of the value and potential benefits of various transactions; risks associated with potential governmental and/or regulatory action with respect to clean technology and mining waste reprocessing; risks associated with a potential collapse in the value of clean technology and waste reprocessing; and risks relating to the Company’s potential inability to expand its reprocessing pipeline.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
