- Sanu Gold (SANU) has upsized its private placement financing for gross proceeds of $3,000,000
- The company will issue up to a maximum of 11,111,112 units at a price of $0.27 per unit
- Proceeds will be used to advance exploration on the company’s drill-ready gold exploration permits in Guinea, West Africa
- The offering is expected to close on or around February 14, 2023
- Sanu Gold Corp s a junior mining, exploration, and development company that has interests in three drill-ready gold exploration projects in West Africa
- Sanu Gold Corp. (SANU) is down 3.33 per cent on the day, trading at C$0.29 per share at 10 am ET
Sanu Gold (SANU) has upsized its private placement financing for gross proceeds of $3,000,000.
The company will issue up to a maximum of 11,111,112 units at a price of $0.27 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share for a period of 36 months.
Martin Pawlitschek, President and CEO of Sanu Gold, commented on the importance of the capital raise.
“The last few weeks have been a pivotal time for the Company, as our team on the ground in Guinea, West Africa, finalized targets for the upcoming drill program on our highly prospective gold targets. Today’s announcement reflects the positive investor sentiment for Sanu Gold to make significant new discoveries in this under-explored part of West Africa, the world’s top gold-producing region.”
Proceeds will be used to advance exploration on the company’s drill-ready gold exploration permits in Guinea, West Africa and for general working capital purposes.
All securities issued are subject to a statutory four-month hold period.
Eventus Capital Corp. has been appointed as a finder in connection with the placement. The company will pay finder’s fees of 6 per cent cash and finder warrants equal to 6 per cent of the number of units placed.
The offering is expected to close on or around February 14, 2023.
Sanu Gold is exploring three gold exploration permits in Guinea, West Africa. The company has defined gold-bearing structures on each of the gold exploration permits, with multiple high-value drill targets and is targeting multi-million-ounce gold discoveries.
Sanu Gold Corp. (SANU) is down 3.33 per cent on the day, trading at C$0.29 per share at 10 am ET.