Business
Baru Gold Closes $1 Million First Tranche of Financing
(TheNewswire) Vancouver, BC – TheNewswire - November 4, 2021 ...
About this update from Baru Gold Corp
[{"type":"text","content":"Baru Gold Closes $1 Million First Tranche of Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, BC –\n \n \n TheNewswire -\n \n \n November 4, 2021\n \n \n - Baru Gold Corp\n \n \n (the “Company” or\n“Baru”)\n \n \n (\n \n \n TSXV:BARU) (OTC:BARUF)\n \n \n is pleased to announce that it has closed $1,002,000.00,\nissuing\n \n \n 10,020,000 Units\n \n \n in the first tranche of the $1.6 million financing previously\nannounced on October 18, 2021.\n \n \n Each unit will be\ncomprised of one common share in the capital of the Company (a\n\"Share\") and one-half common share purchase warrant (a\n\"Warrant\"). Each full Warrant shall be exercisable into one\nShare at an exercise price of $0.17 for 2 years from the date such\nWarrant is issued. The\n \n \n private placement\n \n \n (the \"Private Placement\") consists of\nup to 16,000,000 units priced at $0.10 per unit (the “Unit”).\n \n \n \n \n In this tranche, finder’s fees of $29,890.00 are\npayable in cash on a portion of the private placement to parties at\narm’s length to the Company. In addition,\n \n \n \n \n 291,900\n \n \n non-transferable finder’s warrants to purchase up to\n291,900 Shares are being issued (the “\n \n \n Finder’s Warrants\n \n \n ”), the Finder’s Warrants having the same terms as the\nWarrants.\n \n \n \n \n All securities issued in the first tranche of the\nPrivate Placement will be subject to a four-month hold period expiring\nMarch 5, 2022.\n \n \n \n The Private Placement is subject to certain conditions including, but\nnot limited to, the receipt of all necessary regulatory approvals,\nincluding acceptance of the TSX Venture Exchange.\n \n \n The proceeds raised from the Private Placement will be used to further\nthe exploration program and to provide support for the start-up of\nproduction at the Sangihe Gold project, and for general working\ncapital.\n \n \n \n This news release shall not constitute an offer to sell\nor the solicitation of an offer to buy nor shall there be any sale of\nthe securities in any state in which such offer, solicitation or sale\nwould be unlawful. The securities have not been registered under the\nUnited States Securities Act of 1933, as amended, and may not be\noffered or sold in the United States absent re...