E2Gold Announces Financing and Corporate Update

Toronto, ON / ACCESSWIRE / June 12, 2024 - E2Gold Inc. (TSXV:ETU)(OTCQB:ETUGF) has announced plans to raise up to $500,000 through an equity private placement. The funding will consist of units ("HD Units") priced at C$0.020 and Flow-Through Units ("FT Units") priced at C$0.025, in any combination.

Funds will support the next-stage drilling at the Hawkins Project, targeting the McKinnon East Extension. This site holds the potential to double the McKinnon Zone Inferred Resource.

Ellie Owens has resigned from the Board of Directors and as President of the company. The Board expressed gratitude for her role in E2Gold's growth. Dr. David Good, Chairman, conveyed well wishes for her new endeavors.

Each HD Unit includes one common share and one purchase warrant, exercisable at C$0.05 for 24 months. Each FT Unit consists of one flow-through share and one warrant, exercisable at C$0.06 for 24 months. Up to 50% of the offering may be purchased by insiders, pending TSX Venture Exchange approval.