Banyan Announces Closing $31.4 Million Private Placement with Strategic Investor
Executive Summary
- Banyan Gold Corp. closed a non‑brokered private placement raising $31.389 million in total gross proceeds.
- Issued 23,700,000 Special Flow‑Through (FT) Shares at $0.97 each and 12,000,000 HD Shares at $0.70 each; both series are held by strategic investor Alpayana S.A.C.
- Proceeds will be used for eligible Canadian exploration expenses on the AurMac Project (Special FT Shares) and for general & administrative purposes (HD Shares).
Key Details
- Offering Structure
- Special FT Shares: 23,700,000 shares @ $0.97 = $22,989,000 gross proceeds.
- HD Shares: 12,000,000 shares @ $0.70 = $8,400,000 gross proceeds.
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Aggregate Gross Proceeds: $31,389,000.
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Share Hold Period
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Both series subject to a hold period under Canadian securities laws expiring 16 Feb 2026.
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Use of Proceeds
- Special FT Shares: To incur (or be deemed to incur) eligible “Canadian exploration expenses” qualifying as flow‑through mining expenditures on Banyan’s Yukon projects, to be spent by 31 Dec 2026 and renounced to subscribers by 31 Dec 2025.
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HD Shares: Allocated for general and administrative expenses.
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Investor
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All shares purchased by Alpayana S.A.C., a family‑owned mining group operating six units in Peru and Mexico, with projected 2025 revenues > US$1 billion.
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Regulatory Condition
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Offering remains subject to final approval of the TSX Venture Exchange (TSXV).
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CEO Comment
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“Banyan welcomes the support of Alpayana, along with the Gubbins family, with this timely investment to accelerate advancing our AurMac project,” – Tara Christie, President & CEO.
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Qualified Person
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Duncan Mackay, M.Sc., P.Geo. (Vice President Exploration) reviewed and approved all technical content except the Mineral Resource Estimate.
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AurMac Project Context
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Current Mineral Resource Estimate (effective 28 Jun 2025):
- Indicated: 2.274 Moz Au (112.5 Mt @ 0.63 g/t)
- Inferred: 5.453 Moz Au (280.6 Mt @ 0.60 g/t)
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Forward‑Looking Statements
- Includes expectations on resource expansion, conversion of inferred to indicated resources, use of proceeds, tax treatment of FT shares, and TSXV approval timeline.
Notable Quotes
“Banyan welcomes the support of Alpayana, along with the Gubbins family, with this timely investment to accelerate advancing our AurMac project.” – Tara Christie, President & CEO
This release is not an offer or solicitation in the United States and complies with applicable securities regulations.