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Baru Gold Announces Re-Pricing of Private Placement
(TheNewswire) March 25, 2025 – TheNewswire - Vancouver, BC - Baru Gold Corp ...
About this update from Baru Gold Corp
[{"type":"text","content":"Baru Gold Announces Re-Pricing of Private Placement\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n March 25, 2025 – TheNewswire -\n \n\n Vancouver, BC - Baru Gold Corp\n \n\n (\n \n\n TSX.V:\n \n\n BARU\n \n\n | OTCQB:BARUF\n \n\n )\n \n\n (“Baru” and\nits subsidiary PT. Tambang Mas Sangihe (“TMS”) or the\n“Company”) announces to shareholders in accordance with TSX\nVenture Exchange regulations and in response to market conditions, it\nhas adjusted the pricing of its non-brokered private placement\ninitially set forth on February 27, 2025. The Company is now offering\nup to 25,000,000 common shares (the \"Shares\") at a revised\nprice of $0.04 per share, for gross proceeds of up to $1,000,000. Each\nunit will comprise one common share in the capital of the Company and\none non-transferable common share purchase warrant. Each warrant will\nentitle the holder to purchase over two years one additional share at\nan exercise\n \n\n price\n \n\n of\n$0.07. We expect to close approximately 50% of the offering, that was\nraised in the first week of the announcement of the private placement,\nby the end of this week and the balance of the financing is expected\nto close on or before April 20, 2025.\n \n\n\n\n The funds will primarily be used to pay for the\noutstanding land use tax on the Sangihe Gold Project which is payable\nto the Indonesian Ministry of Energy and Mineral Resources (ESDM). The\nland use tax, colloquially referred to as “dead-rent” tax, is a\nfee payable annually.\n \n\n As previously announced,\nthe Company has revised and submitted all technical and documentary\nrequirements to the ESDM to receive approval for an upgrade to\nProduction Operations and has been advised that the payment of taxes\nis the only outstanding requirement to receive the upgrade to\nProduction Operations.\n \n\n\n\n The use of proceeds of the financing will be $800,000\nfor the land use taxes and the balance of the funds received will be\nused for working capital while the Company waits for the issuance of\n \n\n the upgrade to Production Operations\n \n\n .\n \n\n Once the upgrade to Production\nOperations is approved, several potential lenders have expressed\ninterest in non-dilutive forms of funding to scale project\ndevelopment.\n \n\n\n\n There ...