EnviroGold Global Limited (OTCMKTS:ESGLF) Stock On Radar After $2.15M Financing

The clean technology sector is justifiably getting a lot of attention from investors nowadays and there are many companies that one could look into. One of the companies which may be worth tracking at this point is EnviroGold Global Limited (OTCMKTS:ESGLF) , a clean technology firm which is involved in helping the global transition to a circular economy.

Trading Data

On Friday, ESGLF stock jumped 1.14% to $0.1247 with more than 1 million shares, compared to volume of 10.74K shares. The stock moved within a range of $0.1247 – 0.1247 after opening trade at $0.1247.

EnviroGold Global Announces $2.15M Financing

The company had been in the news cycle yesterday after it announced that it was going to have a non-brokered private placement of unsecured convertible notes. EnviroGold Global seeks to raise gross proceeds to the tune of $2.15 million from the placement. The company aims to close the private placement at around June 5, 2023 and the placement would be made two investor groups in total.

The notes are going to mature 24 months from the date of issuance and would also carry interest rate of 8% a year. The interest would be calculated in the form of simple interest which would accrue in the form of arrears on a monthly basis. As per the provisions of the placement, the subscribers would have the option of converting the notes into common shares at any point before maturity.