Banyan Gold Corp. Completes $14.5 Million Private Placement

Banyan Gold Corp. (TSX-V:BYN)(OTCQB:BYAGF) has finalized a non-brokered private placement, raising $14.5 million. The Vancouver-based company issued 32 million Premium FT Shares at $0.336 each, totaling $10.75 million, 7.84 million FT Shares at $0.285 each for $2.23 million, and 6.3 million HD Shares at $0.24 each for $1.51 million.

The company received no finder’s fee for this offering. CEO Tara Christie emphasized that this strategic financing will support the AurMac Project's expansion, facilitating extensive exploratory drilling and research efforts until 2026. The proceeds from FT Shares will fund Canadian exploration expenses, with HD Share proceeds aiding general expenses.

Additionally, company insiders acquired 338,174 common shares. The placement did not require a material change report, given the insiders' participation was below 25% of market capitalization. The shares are not registered under U.S. securities laws.