Baru Gold Completes First Tranche of Private Placement
(TheNewswire)
July 16, 2025 – TheNewswire - Vancouver, BC - Baru Gold Corp. (BARU: TSX.V | BARUF: OTCQB) (the “Company” or“Baru”) announces thatit has completed its first tranche of its private placement (a“PrivatePlacement”) for an aggregate of $897,952.50,issuing 10,564,146 Units at $0.085 per unit which was previouslyannounced on July 9, 2025 and subsequently increased the offering onJuly 11, 2025. Each unit will be comprised of one common share inthe capital of the Company (a “Share”) and one non-transferable commonshare purchase warrant (a “Warrant”). Each Warrant shall be exercisablefor one Share for 2 years from the date such Warrant is issued at anexercise price of $0.115. The second and finaltranche of the $1.3 million offering will be oversubscribed andclose July 18, 2025.
The proceeds raised from the Private Placement willsupport working capital and particularpre-production expenses, enabling an accelerated construction andproduction startup timeline. Finder’s feesof $12,048.75 were paid in cash and 141,750 finders warrants equal to7% of the gross subscription proceeds raised in this tranche wereissued to two finders in accordance with the policies of the TSXVenture Exchange. The finder’s warrants are exercisable for oneShare for 2 years from the date such Warrant is issued at an exerciseprice of $0.115.
All securities issued in this first tranche of thePrivate Placement will be subject to a four-month hold period whichwill expire on November 16, 2025. The Private Placement is alsosubject to final Exchange approval.
An Insider of the Company has participated in theforegoing offering which constitutes a "related partytransaction" as defined under Multilateral Instrument61-101 Protection of Minority Security Holders in SpecialTransactions (“MI 61-101”). Suchparticipation is exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101 as neither the fairmarket value of the securities acquired by the insiders, nor theconsideration for the securities paid by such insiders, exceed 25% ofthe Company's market capitalization. The Insider has subscribed foran aggregate of 1,176,470 common shares for total proceeds of$100,000.
This news release shall not constitute an offer to sellor the solicitation of an offer to buy nor shall there be any sale ofthe securities in any state in which such offer, solicitation or salewould be unlawful. The securities have not been registered under theUnited States Securities Act of 1933, as amended, and may not beoffered or sold in the United States absent registration or anapplicable exemption from the registration requirements.
ABOUT
SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on
the Indonesian island of Sangihe, off the northern coast of Sulawesi
with a gold bearing area of approximately 25,000 ha.
Sangihe has an existing National Instrument 43-101
report suitable for mining planning and production schedules for an
area within the 65-hectare area targeted for initial production. See
the company's "Independent Technical Report on the Updated
Mineral Resource Estimates of the Binebase and Bawone Deposits,
Sangihe Project, North Sulawesi, Indonesia" (Mining Associates
Pty. Ltd., Feb. 1, 2025). Only 10 per cent of the gold-bearing area
has been explored.
Readers are cautioned that mineral
resources that are not mineral reserves do not have demonstrated
economic viability. The Company intends to proceed to production
without the benefit of first establishing mineral reserves supported
by a feasibility study. The Company cautions readers that the any
production decision made by the Company will not be based on a NI
43-101 feasibility study of mineral reserves that demonstrates
economic and technical viability and as such, there may be involved
increased uncertainty and various technological and economic
risks
The Company's 70-percent interest in the
Sangihe-mineral-tenement Contract of Work (“CoW”) is held through
PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest
in TMS is held by other Indonesian corporations. The term of the
Sangihe CoW agreement is 30 years upon commencement of the production
phase of the project. Baru has met all the requirements of the
Indonesian government and has been granted its environmental
permit.
ABOUT BARU GOLD CORP.
Baru Gold Corp. is a dynamic junior gold developer with
NI 43-101 gold resources in Indonesia, one of the top ten gold
producing countries in the world. Based in Indonesia and North
America, Baru’s team boasts extensive experience in starting and
operating small-scale gold assets.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief
Geologist of Baru Gold Corp. is the Qualified Person as defined under
NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
604-684-2183
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical innature, constitute “forward looking statements” within the meaningof that phrase under applicable Canadian securities law. Thesestatements include, but are not limited to, statements or informationconcerning future work programs, results and timing of any workprograms, the Company’s performance or events as of the date hereof.These statements reflect management’s current assumptions andexpectations and by their nature are subject to certain underlyingassumptions, known and unknown risks and uncertainties and otherfactors which may cause actual results, performance or events to bematerially different from those expressed or implied by such forwardlooking statements. Those risks include the interpretation of drillresults; the geology, grade and continuity of mineral deposits; thepossibility that future exploration, development or mining resultswill not be consistent with our expectations; commodity and currencyprice fluctuation; failure to obtain adequate financing; regulatory,recovery rates, refinery costs, and other relevant conversion factors,permitting and licensing risks; general market and mining explorationrisks and production and economic risks related to design andengineering, manufacturing, technological processes and testprocedures and the risk that the project’s output will not besalable at a price that will cover the project’s operating andmaintenance costs. Forward-looking statements should not be construedas investment advice. Readers should perform a detailed, independentinvestigation and analysis of the Company and are encouraged to seekindependent professional advice before making any investment decision.Accordingly, readers should not place undue reliance on anyforward-looking statement. Except as required by applicable securitieslaws, the Company disclaims any obligation to update or revise anyforward looking statements to reflect events or changes incircumstances that occur after the date hereof.
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