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Baru Gold Completes Shares for Debt Transaction
(TheNewswire) Vancouver, BC - TheNewswire - Baru Gold Corp - (the “ Comp...
About this update from Baru Gold Corp
[{"type":"text","content":"Baru Gold Completes Shares for Debt Transaction\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 Vancouver, BC -\n \n \n TheNewswire -\n \n \n Baru Gold Corp -\n \n (the “\n \n Company\n \n \n ” or\n“\n \n \n Baru\n \n \n ”) announces that further to its news release dated\nNovember 13, 2023, the Company has issued 6,104,656 common shares at a\ndeemed price of $0.03 per common share for an aggregate value of\n$183,139.68.\n \n \n \n \n All securities issued in the aforementioned will be\nsubject to a four-month hold period expiring March 16, 2024.\n \n \n \n \n Insiders of the Company participation in the foregoing\noffering constitutes a \"related party transaction\" as\ndefined under Multilateral Instrument 61-101\n \n \n Protection of Minority Security Holders in\nSpecial Transactions\n \n \n (“\n \n \n MI 61-101\n \n \n ”). Such\nparticipation is exempt from the formal valuation and minority\nshareholder approval requirements of MI 61-101 as neither the fair\nmarket value of the securities acquired by the insiders, nor the\nconsideration for the securities paid by such insiders, exceed 25% of\nthe Company's market capitalization.\n \n \n \n \n ABOUT SANGIHE GOLD PROJECT\n \n \n \n \n The Sangihe Gold Project (“Sangihe”) is located on\nthe Indonesian island of Sangihe, off the northern coast of Sulawesi.\nSangihe has an existing National Instrument 43-101 inferred mineral\nresource of 114,700 indicated and 105,000 inferred ounces of gold, as\nreported in the Company's “Independent Technical Report on the\nMineral Resource Estimates of the Binebase and Bawone Deposits,\nSangihe Project, North Sulawesi, Indonesia” (May 30, 2017). Readers\nare cautioned that mineral resources that are not mineral reserves do\nnot have demonstrated economic viability.\n \n \n \n \n The Company intends to proceed to production without\nthe benefit of first establishing mineral reserves supported by a\nfeasibility study. The Company cautions readers that the any\nproduction decision made by the Company will not be based on a NI\n43-101 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\nrisks\n...