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Baru Gold Announces $2.25 Million Financing
(TheNewswire) February 21, 2023 – TheNewswire - Baru Gold Corp. ( TSXV:B...
About this update from Baru Gold Corp
[{"type":"text","content":"Baru Gold Announces $2.25 Million Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n February 21, 2023 – TheNewswire -\n \n \n Baru Gold Corp.\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 conducting a\n$2.25-million non-brokered private placement consisting of up to\n75,000,000 priced at $0.03 per unit. Each unit will comprise one\ncommon share in the capital of the company and one transferable common\nshare purchase warrant. Each warrant will entitle the holder to\npurchase one additional share at an exercise price of $0.05 for the\nfirst year and $0.10 cents for the second year during a two year term.\nThe financing is expected to close on or before April 7, 2023.\n \n \n \n \n The use of proceeds percentage of the financing will be\n13 per cent for land acquisition, 22 per cent for drilling, 7 per cent\nfor security, 4 per cent for investor relations, 18 per cent for\npayments to non-arm's-length parties and 36 per cent for working\ncapital.\n \n \n \n \n Note: The company cautions readers that the any\nproduction decision made by the company will not be based on a\nNational Instrument 43-101 feasibility study of mineral reserves that\ndemonstrates economic and technical viability, and, as such, there may\nbe involved increased uncertainty and various technological and\neconomic risks such as the interpretation of drill results; the\ngeology, grade and continuity of mineral deposits; the possibility\nthat future exploration, development or mining results will not be\nconsistent with the Company's expectations; commodity and currency\nprice fluctuation; failure to obtain adequate financing; regulatory,\nrecovery rates, refinery costs, and other relevant conversion factors,\npermitting and licensing risks; general market and mining exploration\nrisks, and production and economic risks related to design and\nengineering, manufacturing, technological processes and test\nprocedures, and the risk that the project's output will not be\nsaleable at a price that will cover the project's operating and\nmaintenance costs.\n \n \n \n \n The private placement is subject to regulatory\napproval, and all securities to be issued pursuant to the financing\nare subject to a four-month hold period under applicable Canadian\nsecurities laws. All funds...