Banyan Gold (TSX-V:BYN) has launched a US$58 million ($81.4 million) capital raise, consisting of a best-efforts private placement plus a concurrent non-brokered private placement, to advance its gold projects in Yukon, Canada.
The company appointed Canaccord Genuity as lead agent and sole bookrunner for a syndicate of agents for a best-efforts private placement of up to 25 million shares at US$2.00 per share to raise up to US$50 million.
Concurrently, Banyan intends to issue up to 8 million shares on a non-brokered private placement basis at US$2.00 per share to raise additional proceeds of up to US$8 million.
The offering expects to close on or about 29 September 2026, subject to conditions including conditional approval from the TSX Venture Exchange.
Net proceeds will be used to advance the company’s Yukon projects and for general corporate and working capital purposes.
Shares under the main offering will be offered pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 and will not be subject to a hold period under Canadian securities laws.
Meanwhile, shares sold under the concurrent placement will be subject to a statutory hold period expiring four months and one day following issuance.
Banyan’s primary asset is the AurMac Gold Project, located in the traditional territory of the First Nation of Na-Cho Nyäk Dun. The project comprises the Airstrip and Powerline deposits.
The company also holds the Hyland Gold Project, as well as the 100%-owned Nitra Gold Project and Seattle-Goodman Creek Project covering over 530km² in the Mayo mining district.
Banyan Gold is an explorer focused on advancing gold projects in Canada’s Yukon Territory.
Write to Paula Fabe at Mining.com.au
Main image: Banyan Gold
