Sylla Gold Announces Closing of First Tranche of Private Placement of Units for Gross Proceeds of $2,399,500

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[{"type":"text","content":"Sylla Gold Announces Closing of First Tranche of Private Placement of Units for Gross Proceeds of $2,399,500Bedford, Nova Scotia--(Newsfile Corp. - March 2, 2022) - Sylla Gold Corp. (TSXV: SYG.H) (the \"Company\") is pleased to announce that, further to its press release of January 27, 2022, it has closed the first tranche of a non-brokered private placement through the issuance of 11,997,500 units (each, a \"Unit\") at a price of $0.20 per Unit for aggregate gross proceeds of $2,399,500 (the \"Offering\"). Each Unit is comprised of one common share (each, a \"Common Share\") in the capital of the Company and one Common Share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.32 per Common Share for a period of two (2) years from the closing of the Offering.In connection with the closing of the first tranche of the Offering, the Company paid certain eligible persons (the \"Finders\") a cash commission of $130,600 and issued 640,000 broker warrants (each, a \"Broker Warrant\"). Each Broker Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.32 per Common Share for a period of two (2) years from the closing of the Offering. All securities issued pursuant to the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The proceeds from the Offering will be used by the Company for corporate and general working capital purposes, exploration and to satisfy payables. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.The Offering constituted a \"related party transactio...

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