Banyan Gold Corp.: Banyan Announces Closing $1.5 M First Tranche of Financing
Company or
Banyan ) (
TSXV:BYN) is pleased to announce, subject to approval by TSX-V, that it is closing the first tranche of $1,500,000 of a total $2,500,000 Private Placement.
The Company intends to use the net proceeds from the Private Placement to expand its exploration activities in 2021 on its Yukon based properties.
The first tranche includes 5,357,143 Flow Through Shares at $0.28. A second tranche consisting of approximately 3,076,924 Charity Flow Through Shares priced at $0.325 for gross proceeds of $1,000,000 is expected to close on or around December 29, 2020. With a strong treasury and a project located adjacent to mines of our two largest shareholders, Victoria Gold and Alexco Resources, we are now well positioned to strategically advance this project to the next level in 2021 with an increase in planned exploration activities. stated Tara Christie, President and CEO.