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Evergold raises C$3.5M in IPO for British Columbia projects

Evergold Corp. said Oct. 4 that it has completed an initial public offering on the TSX Venture Exchange amounting to C$3.5 million, which will be used for Phase 1 exploration drilling programs on the Snoball and Golden Lion properties in British Columbia, for maintenance of its Holy Cross and Spanish Lake properties, also in British Columbia, and for general working capital purposes.

The offering consisted of 17,250,000 units at 20 Canadian cents apiece and includes 2,250,000 units on the full exercise of an over-allotment option granted to the agent.

Each unit consists of 1 common share and half of a common share purchase warrant. Each warrant entitles the holder to purchase 1 common share for a period of 24 months from closing at a price of 25 Canadian cents per common share.

The company's shares began trading under the stock symbol EVER.