Banyan Gold (TSX-V:BYN) has closed C$54.3 million ($54.85 million) in equity financing to advance its gold projects in Yukon, Canada, with Franco-Nevada (TSX:FNV) joining as a shareholder.
The company raised C$46.313 million through a brokered placement of 23,156,500 shares at C$2.00 each, led by Canaccord Genuity. A concurrent non-brokered placement raised C$8 million through 4 million shares at the same price.
CEO Tara Christie says the financing will support drilling, engineering, and permitting at AurMac and Nitra through 2028.
“We are very pleased to welcome Franco-Nevada as a new shareholder of Banyan and thank all of our existing and new shareholders for their strong support,” Christie says.
Net proceeds will fund project advancement, working capital, and general corporate purposes.
Brokered placement shares carry no hold period under applicable Canadian securities laws. Non-brokered shares are restricted until 30 January 2027. Both offerings remain subject to final TSX Venture Exchange approval.
Banyan Gold is a Canadian explorer focused on gold exploration and development in Yukon. Its portfolio also includes the Nitra Gold Project, Hyland Gold Project, and Seattle-Goodman Creek Project.
Write to France Pinzon at Mining.com.au
Main image: Banyan Gold
