Banyan Corp

Banyan Gold Corp. has closed a brokered private placement and a concurrent non-brokered placement for combined gross proceeds of $54.3 million. The brokered offering, led by Canaccord Genuity Corp. as lead agent and sole bookrunner, issued 23,156,500 common shares at $2.00 per share for gross proceeds of $46,313,000. The concurrent non-brokered offering issued an additional 4,000,000 shares at $2.00 per share for gross proceeds of $8,000,000. President and CEO Tara Christie said the company is pleased to welcome Franco-Nevada as a new shareholder, and that the financing will allow Banyan to rapidly advance its AurMac and Nitra projects through 2028, including drilling, engineering and permitting what she called one of Canada's largest gold deposits. Net proceeds will fund advancement of Banyan's Yukon projects and general corporate and working capital purposes, and both offerings remain subject to final approval of the TSX Venture Exchange.