Business
Banyan Announces Closing $31.4 Million Private Placement with Strategic Investor
Not for distribution to United States newswire services or for dissemination in the United States VANCOUVER, BC / ACCESS Newswire / October 16, 2025 /Banyan Gold Corp. (TSXV:BYN)(OTCQB:BYAGF) (the "Company" or "Banyan") is pleased to announce that ...
About this update from Banyan Corp(oregon)
[{"type":"text","content":"Not for distribution to United States newswire services or for dissemination in the United States","length":97,"tagName":"p"},{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / October 16, 2025 / Banyan Gold Corp. (TSXV:BYN)(OTCQB:BYAGF) (the "Company" or "Banyan") is pleased to announce that it has closed a non-brokered private placement whereby the Company has issued (i) 23,700,000 common shares (the "Special FT Shares"), which qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"), at a price of $0.97 per Special FT Share, for gross proceeds of $22,989,000; and (ii) 12,000,000common shares at a price of $0.70 per Share (the "HD Shares"), for gross proceeds of $8,400,000 for aggregate gross proceeds to the Company of $31,389,000 (the "Offering").","length":751,"tagName":"p"},{"type":"text","content":"The Special FT Shares and HD Shares were issued pursuant to applicable private placement exemptions and are subject to a hold period under Canadian securities laws expiring February 16, 2026.","length":191,"tagName":"p"},{"type":"text","content":"The Company will use the gross proceeds raised pursuant to the issuance of Special FT Shares to incur (or be deemed to incur) eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as both terms are defined in the Tax Act) related to the Company's projects in the Yukon (the "Qualifying Expenditures"), on or before December 31, 2026, and to renounce all the Qualifying Expenditures in favour of the subscribers of the Special FT Shares effective December 31, 2025. The net proceeds raised pursuant to the issuance of the HD Shares will be used for general and administrative expenses.","length":657,"tagName":"p"},{"type":"text","content":"Both the subsequent buyer of the Special FT Shares and the HD Shares is a strategic investment by Alpayana S.A.C. ("Alpayana"). The Offering remains subject to the final approval of the TSX Venture Exchange (the "TSXV").","length":240,"tagName":"p"},{"type":"text","content":""Banyan welcomes the support of Alpayana, along with the Gubbins family, with this timely investment to accelerate advancing our AurMac project,"...