Banyan Gold closes $31.38-million private placement

Executive Summary

• Banyan Gold Corp. has closed a non-brokered private placement raising aggregate gross proceeds of $31.4 million from strategic investor Alpayana SAC.
• The financing consists of two tranches: $23 million from special flow-through shares (FT) and $8.4 million from hard-dollar shares (HD), priced at 97 cents and 70 cents per share, respectively.
• Proceeds from the FT shares are designated for eligible Canadian exploration expenses on the company's Yukon projects, while HD share proceeds are for general and administrative expenses.

Key Details

• Aggregate Gross Proceeds: $31,389,000.
• Flow-Through Shares (FT):
  • Quantity: 23,700,000 common shares.
  • Price: 97 cents per share.
  • Gross Proceeds: $22,989,000.
  • Use of Proceeds: To incur eligible Canadian exploration expenses related to projects in Yukon on or before Dec. 31, 2026, with renunciation of qualifying expenditures to subscribers effective Dec. 31, 2025.
• Hard-Dollar Shares (HD):
  • Quantity: 12,000,000 common shares.
  • Price: 70 cents per share.
  • Gross Proceeds: $8,400,000.
  • Use of Proceeds: General and administrative expenses.
• Investor: Alpayana SAC (a family-owned private mining group with operations in Peru and Mexico).
• Hold Period: Shares are subject to a hold period under Canadian securities laws expiring Feb. 16, 2026.
• Regulatory Status: The offering remains subject to the final approval of the TSX Venture Exchange.
• Qualified Person: Duncan Mackay, MSc, PGeo, Vice-President, Exploration, verified the data disclosed.

Notable Quotes

• "Banyan welcomes the support of Alpayana, along with the Gubbins family, with this timely investment to accelerate advancing our AurMac project," stated Tara Christie, Banyan president and chief executive officer.