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Baru Gold Announces $1.6 Million Financing
(TheNewswire) October 18, 2021 – TheNewswire - Baru Gold Corp (&#x...
About this update from Baru Gold Corp
[{"type":"text","content":"Baru Gold Announces $1.6 Million Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n October 18, 2021 – TheNewswire -\n \n \n Baru Gold Corp (“BARU” or the “Company”)\n \n \n (\n \n \n TSXV:BARU\n \n \n )\n \n \n |\n \n \n (\n \n \n OTC:BARUF\n \n \n )\n \n \n is pleased to announce a $1.6 million private placement\n \n (the \"Private Placement\").\n \n The\nPrivate Placement will consist of 16,000,000 units priced at $0.10 per\nunit (the “Unit”).\n \n Each unit will be comprised of one\ncommon share in the capital of the Company (a \"Share\") and\none-half common share purchase warrant (a \"Warrant\"). Each\nfull Warrant shall be exercisable into one Share at an exercise price\nof $0.17 for 2 years from the date such Warrant is issued. The\nfinancing is expected to close on or before October 31, 2021.\n \n \n \n Mr. Terry Filbert, CEO of Baru, adds, “\n \n \n The Company currently has sufficient funds\nto construct and start production that was announced in the news\nrelease of September 12, 2021.  Construction will consist of clearing\nland, building two 100,000 tonnes heap leach pads, pit overburden\nremoval, preparation of waste dumps, a crushing facility, and a\nprocessing plant area including access roads.\n \n \n \n \n With the start of construction and\nfirst pour anticipated in Q1 of 2022, the funds raised from this\nprivate placement will be used to further the exploration program\nannounced in the news release of September 14, 2021, provide support\nfor the start-up of production, and our team’s ability to execute\nboth activities concurrently, and general working capital. We are\nencouraged by the support of our long-term shareholders who have\nexpressed interest in a sizable allocation of this financing and\nencourage interested investors to contact Baru or your financial\nadvisor for an allocation request\n \n \n .”\n \n \n \n \n Note:\n \n \n The Company cautions readers that\nthe any production decision made by the Company will not be based on a\nNI 43-101 feasibility study of mineral reserves that demonstrates\neconomic and technical viability and as such, there may be involved\nincreased uncertainty and various technological and economic risks\nsuch as the interpretation of drill results; the geology, grade and\ncontinuity of miner...