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Sranan Gold Corp. (CSE: SRAN,OTC:SRANF) (OTCQB: SRANF) (FSE: P84) ("Sranan" or the "Company") is pleased to announce a non-brokered private placement on a prospectus-exempt basis of up to 20,000,000 units (each, a "Unit") at a price of $0.15 per Unit for aggregate gross proceeds of up to $3,000,000 (the "Offering"). The Offering is being led by a strategic investor, Concept Capital Management Ltd., for $800,000.
Each Unit will consist of one (1) common share (each, a "Share") in the capital of the Company and one-half (1/2) common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Share from the Company at a price of $0.275 per Share for a period of forty-eight (48) months from the date of issuance.
The Units will be offered to accredited investors pursuant to applicable prospectus exemptions in accordance with National Instrument 45-106 - Prospectus Exemptions. All Shares issued will be subject to a hold period of four months and one day from any closing date. Sranan may pay finders' fees of not more than 6% in respect of those purchasers under the Offering introduced to it by certain arm's-length persons in accordance with the policies of the Canadian Securities Exchange ("CSE").
The Offering is expected to close on or prior to May 31, 2026 and is subject to certain customary closing conditions. The Offering is subject to the approval of the CSE.
The Company intends to use the net proceeds of the Offering as follows:
An additional 5,000-metre diamond drilling program at Randy's Pit and a 5,000-metre Phase one drilling campaign at Poeketi, both on the Tapanahony Project in Suriname, as well as a field exploration program along the South Intrusion and West Poeketi targets;
Field work, mapping, sampling, and other exploration activities on the Company's recently acquired Lawatino concession in the Lawa region along the Central Guiana Shear Zone, adjacent to Founders Metals and Miata Metals;
Working capital requirements; and,
General corporate purposes as well as marketing initiatives.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act), unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This press release is not for distribution to U.S. newswire services nor for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.
About Sranan Gold
Sranan is engaged in the business of mineral exploration and the acquisition of mineral property assets in Suriname. The Company's flagship Tapanahony Project covers 29,000 hectares in one of Suriname's most prolific artisanal gold mining districts, and Sranan recently announced the acquisition of the 18,468-hectare Lawatino Project situated in southeastern Suriname along the Central Guiana Shear Zone.
For more information, please visit sranangold.com.
Contact Information
Oscar Louzada, CEO
+31 6 25438975
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
Forward-looking Statements
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company's exploration plans and results at its projects. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "goal", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release. Further details about the risks applicable to the Company are contained in the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the successful closing of the Offering described in this release, the timing of exploration activities including drilling, the results of exploration activities, the realization of resource and reserve estimates, metal prices, taxation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294257
