Evergold closes $350,000 convertible debenture with director

Evergold Corp. (TSX-V: EVER) completed a $350,000 convertible debenture private placement with company director C.J. "Charlie" Greig, the company announced Thursday.

The unsecured debenture carries a 7.5% annual interest rate and matures on November 6, 2027. The principal amount can be converted into up to 1,521,739 common shares at $0.23 per share before the maturity date. The arrangement also includes 1,050,000 warrants exercisable at $0.23 per share for two years.

C.J. Greig Holdings Ltd., wholly owned by Greig who serves as the company's Chief Exploration Officer and director, acquired the entire debenture amount. The transaction qualifies as a related party transaction under securities regulations.

All securities issued are subject to a four-month and one-day hold period from the issuance date.

The Toronto-based mineral exploration company also began drilling operations this week at its DEM property near Fort St. James in central British Columbia. The drilling program targets areas below previous intersections that showed precious and critical metals in 2023 and 2024 testing within the DEM Mountain Zone. The drilling is expected to take one to two weeks to complete.

Evergold operates mineral exploration projects in British Columbia and Nevada. The company previously established GT Gold Corp. in 2016, which discovered copper-gold deposits near Iskut, British Columbia, before selling to Newmont in 2021 for $456 million.

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