Banyan Announces $50 Million LIFE Offering and Concurrent $8 Million Private Placement
Banyan raised $58 million at $2.00 per share to fund drilling and a preliminary economic assessment for its Yukon Explorer project through 2027.
Banyan Gold Corp. (BYN) announced a best efforts private placement of up to 25,000,000 shares at $2.00 per share, alongside a concurrent non-brokered private placement of up to 8,000,000 shares at the same price. The combined offering is expected to raise total gross proceeds of up to $58,000,000. Canaccord Genuity Corp. has been appointed as the lead agent and sole bookrunner for the syndicate.
The company intends to use the proceeds to advance its Yukon projects and for general corporate and working capital purposes. The offering is being made under the listed issuer financing exemption, with an expected closing on or about September 29, 2026, pending regulatory approvals. Primary offering shares carry no hold period, while the concurrent shares carry a 4-month statutory hold.
Banyan Gold Corp. (BYN) has secured financing to support its planned 70,000-metre 2026 drill program and to fund the Preliminary Economic Assessment (PEA) targeted for the second half of 2026. The offering was priced at $2.00 per share, trading at a premium to the recent 30-day average of approximately $1.85 to $1.95.
The issuance consists of up to 33,000,000 new shares, representing approximately 7.4% of current shares outstanding. This capital raise aligns with management's stated strategy to fund operations through fiscal 2027, thereby removing near-term liquidity risk. The news is expected and incremental to the company's ongoing capital raising history.
Banyan Gold Corp. is a gold exploration and development company focused on the AurMac Project in the Mayo Mining District, Yukon, Canada. Its flagship AurMac Project comprises the Airstrip and Powerline deposits. The company also holds the Hyland Gold Project, which contains gold and silver, as well as the Nitra greenfields exploration project.
The company’s land package consists of 720 square kilometers in the Yukon, featuring year-round road access, grid-connected power, and existing infrastructure. Banyan Gold’s strategy is to develop a generation-scale operation utilizing high-grade core resources, starter pits, and aggressive exploration to expand the resource base.
The Mineral Resource Estimate, effective May 15, 2026, includes the following:
- Indicated: 3.64 million ounces of gold at 0.68 g/t
- Inferred: 4.98 million ounces of gold at 0.58 g/t