Vancouver-based Banyan Gold Corp. has entered an agreement for a private placement of up to $50 million, alongside a separate $8-million placement, with proceeds earmarked for advancing its gold projects in Yukon.
The Vancouver-based company, which trades on the TSX Venture Exchange under the ticker BYN and on the OTCQB Venture Market as BYAGF, said Canaccord Genuity Corp. will act as lead agent and sole bookrunner for a syndicate handling a best-efforts offering of up to 25 million shares priced at $2.00 each. The offering is designed to raise gross proceeds of as much as $50 million and is expected to close on or about September 29, 2026, pending regulatory approvals, including conditional sign-off from the TSX Venture Exchange.
Concurrent Placement Adds to Financing
Alongside the larger offering, Banyan also plans to issue up to 8 million additional shares through a non-brokered private placement, also priced at $2.00 per share, which could bring in a further $8 million in gross proceeds. Combined, the two financings could raise the company up to $58 million.
Shares issued under the main offering will not carry a hold period under Canadian securities law, while shares sold through the concurrent placement will be subject to a statutory hold period expiring four months and one day after issuance.
Proceeds Directed to Yukon Exploration
Banyan said the net proceeds from both financings will go toward advancing its Yukon-based projects, along with general corporate and working capital needs. The company’s primary asset is the AurMac Project, located in the Traditional Territory of the First Nation of Na-Cho Nyäk Dun, which includes the Airstrip and Powerline deposits. Banyan also holds the Hyland Gold Project near Watson Lake, Yukon, as well as the Nitra Gold and Seattle-Goodman Creek exploration properties in the Mayo Mining district, which together cover more than 530 square kilometres.
The offering is being conducted under the listed issuer financing exemption set out in National Instrument 45-106, as supplemented by a coordinated blanket order easing certain conditions of that exemption. An offering document related to the financing has been filed on SEDAR+ and is also available on Banyan’s website, with the company noting that prospective investors should review it before making any investment decision.
The securities involved in the offering have not been registered under U.S. securities law and are not being made available for sale within the United States.
Company Background
Banyan is scheduled to make appearances at several industry events following the announcement, including the Precious Metals Summit in Beaver Creek and the Denver Gold Forum in Colorado Springs, both running through late September, as well as The MoneyShow in Orlando in early October. Tara Christie serves as President and CEO of the company.
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