Sylla Gold Announces Closing of Fully Subscribed Private Placement of Units

Executive Summary

• Sylla Gold Corp. closed a non‑brokered private placement of 46 million units at $0.05 per unit, raising gross proceeds of $2.3 million.
• Proceeds are earmarked for advancing exploration and permitting at the Niaouleni Gold Project in Mali, including licence renewal and option exercises on additional licences.
• The transaction included finder’s fees of $47,250 and issuance of 945,000 finder’s warrants; a related‑party insider purchased 200 k units under MI 61‑101 exemptions.

Key Details

• Units Issued: 46,000,000 units at $0.05 per unit → Gross proceeds: $2,300,000.
• Unit Composition: 1 common share + 1 common‑share purchase warrant (exercise price $0.05, 2‑year term).
• Finder’s Compensation: $47,250 cash paid to eligible persons; 945,000 finder’s warrants issued (exercise price $0.05, expiry Feb 25 2028).
• Related‑Party Transaction: Insider subscribed for 200,000 units; exemption relied on MI 61‑101 sections 5.5(b) and 5.7(1)(b); no material change report filed prior to closing.
• Use of Proceeds:
• Advance exploration and permitting at Niaouleni Gold Project (Mali).
• Renew Deguefarakole licence and obtain approval for associated work programs.
• Exercise option agreements on three additional licences within the Niaouleni land package.
• General working capital, payment of accounts payable, and repayment of loans.
• Holding Period: All securities subject to a four‑month plus one day hold period from issuance; resale governed by applicable securities legislation.
• Regulatory Status: Closing remains subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

“The net proceeds of the Offering are intended to be used to advance exploration and permitting objectives at the Company's Niaouleni Gold Project and for working capital and general corporate purposes,” – Regan Isenor, President & CEO.