Baru Gold Closes First Tranche of Financing

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[{"type":"text","content":"Baru Gold Closes First Tranche of Financing\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 Vancouver, BC -\n \n \n TheNewswire -\n \n \n March 3, 2023 -\n \n \n Baru\nGold Corp\n \n (the “\n \n Company\n \n \n ” or “\n \n \n Baru\n \n \n ”)\n \n \n (TSX.V:\n \n \n BARU\n \n \n )\n \n \n (\n \n \n OTC:BARUF\n \n \n )\n \n \n announces that it\nhas closed $170,453.98, issuing 5,681,799 Units in the first tranche\nof the $2.25 million financing previously announced on February 21,\n2023. Each unit will be comprised of one common share in the capital\nof the Company (a “Share”) and one transferable common share\npurchase warrant (a “Warrant”). Each Warrant shall be exercisable\nfor one Share for 2 years from the date such Warrant is issued at an\nexercise price of $0.05 for the first year and $0.10 for the second\nyear. The private placement (the “Private Placement”) consists of\nup to 75,000,000 units priced at $0.03 per unit (the “Unit”).\n \n The proceeds raised from the Private Placement will be used\nfor immediate working capital commitments at the Sangihe Gold project.\n \n No finder’s fees are payable in cash and no\nfinder’s warrants to purchase were issued.\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\nJune 25, 2023.\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 \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 registration or an\napplicable exemption from the registration requirements.\n \n \n \n \n ABOUT SANGIHE GOLD PROJECT\n \n \n \n The Sangihe Gold Project (“Sangihe”) is located on the Indonesian\nisland of Sangihe, off the northern coast of Sulawesi. Sangihe has an\nexisting National Instrument...

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