Business
Sylla Gold Announces Closing of Private Placement
Bedford, Nova Scotia--(Newsfile Corp. - July 23, 2024) - Sylla Gold Corp. (TSXV: SYG) (OTC...
About this update from Sylla Gold Corp
[{"type":"text","content":"\nSylla Gold Announces Closing of Private PlacementBedford, Nova Scotia--(Newsfile Corp. - July 23, 2024) - Sylla Gold Corp. (TSXV: SYG) (OTCQB: SYGCF) (\"Sylla\" or the \"Company\") is pleased to announce that the Company completed a non-brokered private placement through the issuance of 3,200,000 units in the capital of the Company (the \"Units\") at a price of $0.05 per Unit for gross proceeds of $160,000 (the \"Offering\"). Each Unit was comprised of one common share in the capital of the Company (each, a \"Common Share\") and one whole Common Share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.07 per Common Share for a period of eighteen (18) months from the date of issuance.In connection with the Offering, the Company paid certain eligible finders a cash commission in the aggregate of $4,900 and issued 98,000 finder's warrants (each, a \"Finder Warrant\"). Each Finder Warrant entitles the holder thereof acquire one Common Share at a price of $0.05 per Common Share until the date that is eighteen (18) months from the date of issuance.All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Gross proceeds raised from the Offering will be used for working capital and general corporate purposes.In addition, further to its press release of March 4, 2024, the Company will not be proceeding with the acquisition of four exploration licences in Namibia through the acquisition of 95% of the issued and outstanding shares of each of Philco 191(PTY) Ltd., a corporation existing under the laws of Namibia, and Gecko Gold Holdings (PTY) Ltd., a corporation existing under the laws of Namibia, from Namibia Critical Metals Inc.For more information, please contact: Regan IsenorPresident and Chief Executive OfficerTel: (902) 233-4381Email: [email protected] the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Certain statements contained in this news release constitute forward-looking information under applicable Canadian, United States and other applicable securitie...