Banyan Gold Corp. Closes Second Tranche of Private Placement

Banyan Gold Corp. (TSXV:BYN)(OTCQB:BYAGF) has announced the closing of the second and final tranche of its previously announced financing. The company has issued an additional 1,111,000 common shares at a price of $0.27 per share, raising gross proceeds of $299,970.

In total, the company has raised $14,301,270 through both tranches of the financing. The newly issued shares are subject to a hold period under Canadian securities laws, expiring on October 22, 2024.

The net proceeds will be used for general and administrative expenses. Banyan Gold Corp. emphasized that the securities are not registered under the United States Securities Act of 1933 and may not be offered or sold within the United States without proper registration or exemptions.