Franklin Gold And Precious Metals Fund Takes A 7.1% Interest
Banyan Gold Corp. (TSXV: BYN) is successfully closing the second and final tranche of a $16 million private placement.
With the closing of the private placement, the company welcomed the Franklin Gold and Precious Metals Fund as a 7.1% holder in the company and the continued support of Osisko Development Corp. and Victoria Gold Corp., the latter becoming an insider with an 11.1% interest.
“With the completion of this financing, Banyan is poised and fully funded to continue its considerable momentum on building out the AurMac resource into 2022,” President and CEO, Tara Christie, said.
“We are pleased to have added Franklin Gold and Precious Metals Fund to our shareholder base in the process and the continued support of our corporate partners Osisko Development, Alexco Resources, and Victoria Gold.”
The company intends to use the net proceeds from the Private Placement to advance its mineral exploration and development projects and for general corporate purposes. The 2021-22 Exploration Programmes at AurMac are intended to include additional diamond drilling, geotechnical drilling, metallurgical test work, resource update, environmental baseline data collection and the commencement of a Preliminary Economic Assessment (PEA) Study.
For further information please visit: https://banyangold.com/