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Baru Gold Corp Updates Shareholders on Binding Funding Agreement of up to USD$100,000,000 and Payment of Land Use Taxes
(TheNewswire) June 12, 2025 – TheNewswire - VANCOUVER, B.C. - Baru Gold Corp ...
About this update from Baru Gold Corp
[{"type":"text","content":"Baru Gold Corp Updates Shareholders on Binding Funding Agreement of up to USD$100,000,000 and Payment of Land Use Taxes\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 June 12, 2025 – TheNewswire -\n \n\n VANCOUVER, B.C. - Baru Gold Corp\n \n\n (\n \n\n BARU: TSX.V | BARUF: OTCQB\n \n\n )\n \n\n (“Baru” or the “Company”) and its\nsubsidiary PT. Tambang Mas Sangihe (“TMS” or the “Company”)\nwish to update shareholders on the binding preliminary collaboration\nagreement with Quantum Metal Thailand Co., Ltd. (“QMT”) announced\non May 15, 2025, and the payment of land use tax on Sangihe Island.\nThe land\n \n\n use tax\n \n\n is a\nmandatory fee payable annually.\n \n\n\n\n The Company is pleased to announce to shareholders on\nsignificant progress in closing the binding agreement with QMT. The\nCompany has completed the delivery of comprehensive documentation on\nall legal, financial, and operational aspects of the Sangihe Project.\nIn parallel, the leadership of Baru and QMT have held a series of\nproductive meetings with key stakeholders to reinforce strategic\nalignment and work through final approvals and frameworks. Additional\nmeetings are planned. The final definitive agreement is currently\nbeing drafted, aligning key terms to ensure and protect the interests\nof all involved parties.\n \n\n\n\n The Company is currently on schedule to sign the final,\ndefinitive funding agreement within the coming weeks.\n \n\n\n\n Further, the Company is happy to announce to\nshareholders that a payment has been made towards the outstanding land\nuse tax. As previously announced, the Company has been advised that\nthe payment of the land use tax is the only remaining requirement to\nreceive the upgrade to production operations.\n \n\n\n\n Mr. Terry Filbert, CEO of Baru Gold, commented,\n“\n \n\n I am very happy with the\nengagement and progress Baru leadership are making in closing this\nfunding agreement with QMT. I believe QMT is an excellent partner for\nBaru and look forward to working with them.\n \n\n The funding from QMT will support the\nCompany’s financial commitments, production operations, and planned\nsustainability and community initiatives.\n \n\n The Company remains focused on delivering\nlong-term value thro...