Business
Sanu Gold Announces Increase in Private Placement Financing to $3,000,000
Vancouver, British Columbia--(Newsfile Corp. - February 10, 2023) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased t
About this update from Sanu Gold Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - February 10, 2023) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) (\"Sanu Gold\" or the \"Company\") is pleased to announce that the Company has increased the size of its previously announced non-brokered private placement (the \"Placement\"), (see the Sanu Gold news release dated January 24, 2023) to $3,000,000 due to increased investor demand. Under the increased Placement terms, the Company is proposing to issue up to a maximum of 11,111,112 units (each, a \"Unit\") at a price of $0.27 per Unit. Each Unit will be comprised of one common share of the Company (each, a \"Common Share\") and one half of one common share purchase warrant (a \"Warrant\"). Each full Warrant will entitle the holder thereof to purchase one Common Share of the Company at a price of $0.40 for a period of 36 months following the closing date of the Placement. Martin Pawlitschek, President and CEO of Sanu Gold commented: \"The last few weeks have been a pivotal time for the Company, as our team on the ground in Guinea, West Africa finalized targets for the upcoming drill program on our highly prospective gold targets. Today's announcement reflects the positive investor sentiment for Sanu Gold to make significant new discoveries in this under-explored part of West Africa, the world's top gold producing region.\" Proceeds of the Private Placement will be used to advance exploration on the Company's drill-ready gold exploration permits in Guinea, West Africa and for general working capital purposes. The Placement is subject to regulatory approval and all securities issued pursuant to the Placement are subject to a four-month hold period under applicable Canadian securities laws. The Company may pay finder's fees in connection with Placement as permitted by applicable securities laws and the rules of the Canadian Securities Exchange (\"CSE\"). Eventus Capital Corp. has been appointed as a finder in connection with the Placement. The Company will pay fees of 6% cash and finder warrants equal to 6% of the number of Units placed. Each finder warrant will be exercisable to purchase one Common Share of the Company at a price of $0.40 for a period of 36 months following the closing date of the Placement. The Placement is subject to the Company's filing requirements with the CSE. The Placement is expected to close ...