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EVOLVING GOLD is no longer offering oversubscribed subscription receipts, Canadian Business Journal

Vancouver, British Columbia, March 8, 2022 (GLOBE NEWSWIRE) — Evolveing ​​Gold Corp. (“society“) ((((CSE: EVG). We are pleased to inform you that the oversubscribed non-intermediary placement has been completed (“Financing”) 10,053,000 subscription receipts (each“receipt”) For a total income of $ 5,026,500.00, at a price of $ 0.50 per receipt. Financing income will be retained in Esclaw until the completion of all of our acquisition proposals for the issued equity capital of Elephant Capital Corporation announced by us on October 29, 2021.transaction“). Upon completion of the transaction, each receipt will be automatically converted into one share of our common stock and one share of our common stock purchase warrant, and each warrant will give its holder one additional share of our common stock at a price of $ 1.25. Gives you the right to buy at. Per share until March 8, 2026.

The net proceeds from the financing will be used for our working capital and general corporate purposes upon completion of the transaction. All securities issued in connection with financing are subject to a statutory holding period expiring on July 9, 2022.

In connection with the completion of the transaction and the conversion of receipts, we have issued 100,530 shares of common stock to Fiore Management and Advisory Corp., a third party in business-to-business transactions, in relation to financing.

The company also pays a total finder fee of $ 175,000 and issues a total of 350,000 shares of common stock purchase warrants (“Broker warrant“) (collectively,”Finder’s fee”) Certain independent business-to-business third parties that helped refer the parties to financing (“Finder“). Each broker warrant grants holders the right to purchase one common stock at a price of $ 1.25 until March 7, 2026.

Completion of the transaction includes completion of satisfactory due diligence, negotiation and completion of final documents, receipt of necessary regulations and third party consent, approval of the Canadian Stock Exchange, and satisfaction of other practices. Subject to some conditions. Exit conditions. Trading of our common stock is currently suspended and is expected to be suspended until this transaction is completed.

For more information, please contact: info@evolveingold.com

On behalf of the board of directors

Evolving Goldcorp..

Charles E. Jenkins, Deputy Chief Executive Officer

The Canadian Stock Exchange has somehow inherited the benefits of the proposed transaction and has not endorsed or disapproved the content of this press release.

Completion of a transaction is subject to many conditions, including but not limited to acceptance by the Canadian Stock Exchange. There is no guarantee that the transaction will not complete as suggested or at all.

Investors may not be accurate or complete in any information disclosed or received regarding the Transaction and should not be trusted, except as disclosed in the listing statement made in connection with the Transaction. Please note in particular. Trading our securities should be considered highly speculative.

This news release contains certain “forward-looking statements” under applicable Canadian securities law. Forward-looking statements include, but are not limited to, statements regarding the terms of the proposed transaction. Forward-looking statements are considered reasonable, but known and unknown risks, uncertainties, and others that may differ materially from those expressed or implied with actual results or future events. It is inevitably based on many estimates and assumptions that are affected by the factors of. By description of such future prospects.Such factors include, but are not limited to: To: General business, economic, competitive, political and social uncertainties, uncertain capital markets. Delay or not receive board or regulatory approval. Actual results and future events may differ materially from those expected in such a statement, so the transaction proceeds under the above or totally intended terms and proves that such statement is accurate. There is no guarantee that it will be done. Therefore, readers should not place undue reliance on forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.


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EVOLVING GOLD is no longer offering oversubscribed subscription receipts, Canadian Business Journal

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