Banyan Gold Closes $54.3 Million Financing

Banyan Gold Corp. (BYN) confirmed the closing of a previously announced brokered private placement and a concurrent non-brokered private placement on September 29, 2026, raising total gross proceeds of $54,313,000. The brokered offering consisted of 23,156,500 shares at $2.00 for $46,313,000, led by Canaccord Genuity Corp. with a syndicate including Scotia, BMO, ATB, Desjardins, Paradigm, CIBC, and National Bank. The concurrent non-brokered offering included 4,000,000 shares at $2.00 for $8,000,000. In total, 27,156,500 shares were issued at $2.00 for $54,313,000.

The release re-confirmed Franco-Nevada as a new shareholder and stated that net proceeds will advance the AurMac and Nitra projects through 2028, covering drilling, engineering, and permitting. Insiders purchased 250,000 shares in the concurrent offering as part of a related-party transaction exempt under MI 61-101. Brokered shares have no hold period under the LIFE exemption, while concurrent shares are held until January 30, 2027. Both remain subject to final TSX Venture Exchange approval. This financing-administration release contains no new resource, economic, operational, or drill data, as all substantive terms were previously disclosed on September 20 and September 24, 2026.

Banyan Gold Corp. (BYN) has closed a financing deal valued at $54.3 million, representing approximately 94% of the previously announced maximum of $58 million. The shortfall in the total raise is attributed entirely to the brokered portion of the transaction, which raised $46.3 million against a $50 million cap. The concurrent offering component raised $8 million through the issuance of 4 million shares, falling short of the $8 million equivalent cap.

The shares were issued at a price of $2.00. However, the stock closed at $1.92 on September 28, 2026, which is marginally below the placement price, meaning the financing does not trade at a premium to the current market.

Franco-Nevada, a gold royalty and streaming company, subscribed to 10,000,000 shares, comprising 8.25 million and 1.75 million shares, for a total investment of approximately $20 million. This subscription makes Franco-Nevada a new equity holder in Banyan Gold. The participation was originally announced on September 24.

The proceeds from the financing are expected to strengthen the company’s balance sheet, extending the funding runway and covering multi-year drilling, engineering, and permitting activities. This reduces near-term dilution risk for the company, which reported working capital of approximately $55.5 million as of June 30, 2026.

Banyan Gold Corp. (TSXV:BYN, OTCQB:BYAGF) is a Yukon-focused gold explorer and developer led by President and CEO Tara Christie. Its flagship asset is the AurMac Project, which includes the Airstrip and Powerline deposits located approximately 40 km from Mayo within the Traditional Territory of the Na-Cho Nyäk Dun First Nation. The site benefits from existing road access, grid power, and cell coverage.

The company also holds the Hyland Gold Project, which contains an Indicated resource of 337,000 ounces of gold and 2.63 million ounces of silver, alongside an Inferred resource of 118,000 ounces of gold and 0.86 million ounces of silver, based on a prior-period Mineral Resource Estimate effective September 1, 2025. Additionally, Banyan owns 100% of the Nitra and Seattle-Goodman Creek greenfields projects, covering approximately 530 square kilometers.

A maiden Preliminary Economic Assessment for AurMac is guided for the second half or fourth quarter of 2026. The 2026 exploration program targets 70,000 meters of drilling, with the land package consolidated into a contiguous area of approximately 720 square kilometers.