Banyan Gold Completes $54.3 Million Financing

Banyan Gold Corp. has successfully closed its brokered private placement, raising $46.3 million from the sale of 23,156,500 common shares at $2.00 each. Led by Canaccord Genuity Corp., this financing also involved several prominent financial institutions. Concurrently, Banyan issued 4,000,000 additional shares through a non-brokered private placement, securing an extra $8 million. Both financings are pending final approval from the TSX Venture Exchange.

CEO Tara Christie expressed satisfaction with the support from new and existing shareholders, noting Franco-Nevada's entry as a shareholder. The funds will support the development of Banyan's Yukon projects, including AurMac and Nitra, focusing on drilling, engineering, and permitting activities.

This strategic move strengthens Banyan's financial position, ensuring the advancement of its projects through 2028. The transactions were carried out under specific regulatory exemptions, and Banyan is exempt from certain shareholder approval requirements due to the market capitalization involved.