EnviroGold Global Limited announced a non-brokered private placement of unsecured convertible notes for the gross proceeds of CAD 2.15 million on May 29, 2023. The transaction will include participation from two investor groups. The Notes will mature twenty-four months from the date of issuance and bear interest at the rate of 8.0% per annum.

The subscribers may at any time prior to the Maturity Date convert the principal amounts of the Notes into common shares at a price of CAD 0.25 per common share. The accrued and unpaid interest shall be payable in Common Shares at the average closing price on CSE for the 20 trading days immediately prior to the date of conversion. All securities issued in connection with the Financing will be subject to a statutory hold period of four months from the Closing Date pursuant to applicable securities laws of Canada.

Finder's fees may be paid to qualified parties in connection with the Financing. The transaction is expected to close on June 5, 2023.