11:36:11 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Banyan Gold Corp
Symbol BYN
Shares Issued 24,384,000
Close 2016-01-18 C$ 0.03
Market Cap C$ 731,520
Recent Sedar Documents

Banyan Gold closes $200,000 private placement

2016-01-22 15:19 ET - News Release

Mr. Mark Ayranto reports

BANYAN GOLD CLOSES NON-BROKERED PRIVATE PLACEMENT FOR TOTAL PROCEEDS OF $200,000

Banyan Gold Corp. has closed its previously announced non-brokered private placement (see press release dated Dec. 31, 2015), subject to TSX Venture Exchange approval. Banyan has raised a total of $200,000 by issuing four million units at five cents per unit.

Each unit consists of one common share and one full non-transferable common share purchase warrant, with each full warrant exercisable into one common share of the company at an exercise price of seven cents, for a period of 36 months from the date of issuance.

The warrants, which form part of the units, may have their expiry time accelerated at any time prior to the expiry of the warrants if the volume-weighted average trading price of the corporation's shares on the TSX-V is greater than 10 cents for 15 consecutive trading days, at which time the corporation may give notice in writing to the warrantholders within 10 days of such an occurrence that the warrants shall expire on the 30th day following the giving of such notice. Funds will be used for general working capital.

Directors and officers of Banyan participated by acquiring 1.3 million units, or $65,000, and, after closing, will hold approximately 32.9 per cent of the shares outstanding.

All securities issued under the private placement are subject to a hold period expiring four months from the date of issuance. The company did not pay a finder's fee in connection with the financing.

We seek Safe Harbor.

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