Sylla Gold arranges $2.3-million private placement

Executive Summary

• Sylla Gold Corp. announced a non-brokered private placement of up to $2.3 million through the issuance of up to 46 million units at $0.05 per unit.
• Proceeds will be used to advance exploration and permitting for the Niaouleni gold project, renew the Deguefarakole licence, exercise options on remaining licences in the Niaouleni land package, and for general working capital.
• Each unit consists of one common share and one warrant exercisable at $0.05 per share for two years.

Key Details

• Offering Size: Up to $2,300,000 in gross proceeds.
• Units Issued: Up to 46,000,000 units.
• Price: $0.05 per unit.
• Unit Composition: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms: Each warrant allows the holder to acquire one common share at an exercise price of $0.05 per share for a period of two years from the date of issuance.
• Use of Proceeds:
  • Advance exploration and permitting objectives for the Niaouleni gold project.
  • Renewal of the flagship Deguefarakole licence and approval of associated work programs.
  • Facilitate the exercise of option agreements on the remaining three licences within the Niaouleni land package.
  • Working capital and general corporate purposes, including payment of accounts payable and repayment of loans.
• Finder’s Fees: The company may pay eligible finders a cash commission of 7% of gross proceeds and issue finders' warrants equal to 7% of the units sold.
• Finder Warrant Terms: Exercisable at $0.05 per share for two years from issuance.
• Closing Conditions: Subject to corporate and regulatory approvals, including TSX-V approval.
• Hold Period: Four months plus one day from the date of issuance.