10:46 AM EDT, 10/29/2025 (MT Newswires) -- Evergold (EVER.V) shares rose 13% Wednesday after the company said director C.J. Greig's firm, C.J. Greig Holdings, agreed to subscribe for up to $350,000 of an unsecured convertible debenture.

The company said the debenture bears interest at a rate of 7.5% per annum and will mature on Dec. 31, 2026. The principal amount of the debenture is convertible into an aggregate of up to 1.5-million common shares in the capital of Evergold at any time prior to the maturity date at $0.23 per debenture share, subject to certain conditions.

C.J. Greig will also receive 3,000 detachable two-year purchase warrants for each $1,000 of principal of the debenture subscribed for, for a total of 1.1-million warrants. Each warrant will be exercisable into one share at $0.23 apiece.

The company said proceeds from the convertible debenture are expected to allow for the immediate completion of a drill hole below "highly encouraging" intersections of precious and critical metals achieved in 2023 and 2024 within the DEM Mountain Zone, located on its DEM property near Fort St. James in central British Columbia.

"We presently interpret the DEM Mountain Zone to be a near vertical, structurally-focused, epithermal system," said Evergold chief executive Kevin Keough. "Our plan is to test this model with the pending limited program of drilling, which will get underway within approximately one week."

Shares of the company were last seen up $0.03 at $0.26 on the TSX Venture Exchange.

Price: 0.26, Change: +0.03, Percent Change: +13.04