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

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[{"type":"text","content":"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\n\n\n\n TORONTO, July 09, 2025 (GLOBE NEWSWIRE) --\n \n Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ)\n \n (“\n \n Evergold\n \n ” or the “\n \n Company\n \n ”) 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 “\n \n Option\n \n ”), located within the northern half of its Golden Lion property (Figures 1 and 2)(the “\n \n Acquired Tenures\n \n ”). 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 (“\n \n Evergold Shares\n \n ”) on the basis of ten (10) pre-consolidation common share for each one (1) post-consolidation common share (the “\n \n Consolidation\n \n ”) and requires the staged payment over two years of $80,000 worth of post-Consolidation Evergold Shares (together, the “\n \n Consideration Shares\n \n ”) 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 (“\n \n TSXV\n \n ”) 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.\n \n\n All Evergold Shares shall be subject to a hold period of four months and one day from the date of issuance. Completion of the Option and the Consolidation is subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV and, in the case of t...

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