Banyan Gold Corp. (TSXV: BYN | OTCQB: BYAGF) has announced a private placement to raise up to C$46.5M to support continued development and exploration at its AurMac Gold Project in Yukon.
The financing comprises two components:
- Up to 15.5M flow‑through shares priced at C$1.918 per share, targeting gross proceeds of up to C$29.7M; and
- Up to 12.0M common shares priced at C$1.40 per share, raising up to C$16.8M.
The placement is expected to close on or about 6 May 2026, subject to definitive documentation and TSX Venture Exchange approval, and is anticipated to be supported by existing shareholders.
Proceeds from the flow‑through portion will be directed toward eligible Canadian exploration expenditures on Banyan Gold’s Yukon projects. These qualifying expenses will be incurred by the end of December 2027 and renounced in favour of flow‑through investors effective 31 December 2026. Funds raised from the common share component will be used to advance AurMac, expand the company’s 2026 drill programme, and support general working capital.
Banyan Gold noted that the financing aligns with its strategy to systematically advance AurMac through ongoing exploration and technical work, building on recent project momentum. All securities issued will be subject to a statutory hold period of four months plus one day under Canadian securities laws, and no finder’s fees will be paid in connection with the placement.
The company continues to progress AurMac toward key development milestones, with drilling expansion and technical studies planned as exploration activity accelerates through 2026.
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