Sylla Gold Announces Private Placement of Units and Closing of First Tranche of Private Placement

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[{"type":"text","content":"Sylla Gold Announces Private Placement of Units and Closing of First Tranche of Private PlacementBedford, Nova Scotia--(Newsfile Corp. - September 5, 2023) - Sylla Gold Corp. (TSXV: SYG) (the \"Company\") announces closing of a first tranche of a non-brokered private placement through the issuance 4,850,000 units (each, a \"Unit\") at a price of $0.05 per Unit for aggregate gross proceeds of up to $242,500 (the \"Offering\"). Each Unit is comprised of one common share (each, a \"Common Share\") in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.10 per Common Share for a period of eighteen (18) months from the date of issuance.The closing of the Offering constitutes the first tranche of a proposed non-brokered private placement by the Company of up to 10,000,000 Units for aggregate gross proceeds of up to $500,000. The Company anticipates closing an additional tranche (or tranches) on or before October 5, 2023.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 net proceeds raised under the offering will be used for: the exploration and advancement of the company's Niaouleni Gold Project, general corporate and working capital purposes. 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 transaction\" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions (\"MI 61-101\"), as insiders of ...

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