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- by manilatimes.net
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Evergold Enhances the Copper Potential of its Golden Lion Property in BC’s Toodoggone Region by Acquiring 100% of the Copper King Inlier Prospects, Plans Share Consolidation
TORONTO, July 09, 2025 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) ('Evergold” or the 'Company”) is pleased to announce that it has entered into a binding letter of intent to be granted an option to acquire a 100% ownership interest in four inlier claim groups totaling 173 hectares (the 'Option”), located within the northern half of its Golden Lion property (Figures 1 and 2)(the 'Acquired Tenures”). The Option, which is subject to the approval of the TSX Venture Exchange, is conditional on the Company first completing a consolidation of the common shares in the capital of Evergold ('Evergold Shares”) on the basis of ten (10) pre-consolidation common share for each one (1) post-consolidation common share (the 'Consolidation”) and requires the staged payment over two years of $80,000 worth of post-Consolidation Evergold Shares (together, the 'Consideration Shares”) at a price per post-Consolidation Evergold Share equal to the greater of: (i) $0.15 per post-Consolidation Evergold Share; and (ii) the last closing price per post-Consolidation Evergold Share on the TSX Venture Exchange ('TSXV”) prior to the date of issuance. In addition, upon the Company exercising the Option, it shall grant to the Optionor a 2.5% net smelter returns royalty, 1.5 percentage points of which may be bought back for $1.5 million. The Consideration Shares shall be issued in stages as follows: (i) $20,000 of post-Consolidation Shares issued on the date that is one calendar week following the effective date of the Consolidation; (ii) $20,000 of post-Consolidation Shares issued on July 2, 2026; and (iii) $40,000 of post-Consolidation Shares issued on July 2, 2027.