Banyan Gold Receives Approval to Close $1.2 Million Financing

Calgary, Alberta (FSCwire) – Banyan Gold Corp. (TSXV:BYN)  is pleased to announce it has received TSX Venture approval to close its’ recently announced $1.2M non-brokered private placement (refer to the news releases of August 9th financing of up to $850k & August 11th financing increased to $1.2M).
Gross proceeds from the financing are $1,199,999.90 and a standard 4 month hold period is applicable to the issued securities. Insiders participated in the financing for $140,280 or 11.7%.
Funds raised from the financing will be applied to the evaluation of acquisitions, general and administrative costs and exploration on Banyan’s flagship Hyland Project.
The company has issued has issued 500,000 stock options at $0.085 per share to an officer of the Company under its stock option plan. They are exercisable for a period of 5 years.
“Banyan is now finalizing plans for the 2016 field program at the Hyland Project and is well positioned going into 2017”, said Tara Christie, President and CEO.
Connect with Banyan Gold Corp. (TSXV:BYN) to receive an Investor Presentation.