Banyan Gold closed a brokered and concurrent private placement that issued 27,156,500 shares at $2.00 each; proceeds will fund drilling, engineering and permitting at AurMac and Nitra through 2028.
Banyan issued 23,156,500 shares in a $46.313M brokered placement and 4,000,000 shares in a $8.0M concurrent non‑brokered placement, totaling $54.313M gross proceeds.
Proceeds are earmarked for advancing AurMac and Nitra projects in Yukon — drilling, engineering and permitting through 2028 — plus general corporate and working capital.
The brokered Offering comprised 23,156,500 shares sold under an agency agreement dated September 29, 2026. Canaccord Genuity Corp. acted as lead agent and sole bookrunner. The syndicate included Scotia Capital Inc., BMO Nesbitt Burns Inc., ATB Capital Markets Corp., Desjardins Securities Inc., Paradigm Capital Inc., CIBC World Markets Inc. and National Bank Financial Inc.
Offering was a non‑brokered private placement of 4,000,000 shares at the same $2.00 per share price.
Use of proceeds and company comment
Banyan said net proceeds will be used to advance its Yukon projects and for general corporate and working capital purposes. Specifically the company plans to rapidly advance the AurMac and Nitra projects through 2028, including drilling, engineering and permitting work. Tara Christie, Banyan's President and CEO, was quoted thanking new and existing shareholders and noting Franco‑Nevada joined as a new shareholder.
The brokered offering was conducted using the listed issuer financing exemption under Part 5A of NI 45‑106 and related coordinated blanket relief. Shares sold under the brokered offering are not subject to a Canadian hold period. Shares issued in the Concurrent Offering are subject to a statutory hold period expiring January 30, 2027.
Related‑party aspects and MI 61‑101
U.S. restrictions and exchange approval
The news release reiterates that the securities have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States or to U.S. persons, absent registration or an available exemption. The Offering and Concurrent Offering remain subject to final approval of the TSX Venture Exchange.
Banyan's primary asset is the AurMac Project in the Traditional Territory of the First Nation of Na‑Cho Nyäk Dun in Yukon, consisting of Airstrip and Powerline deposits. The company also owns the Hyland Gold Project in the Tintina Gold Belt and holds the Nitra Gold Project and Seattle‑Goodman Creek grassroots exploration projects near AurMac. The announced financing is targeted at advancing those Yukon deposits and related permitting and engineering work through 2028.
TSX-V- and NYSE-listed Mayfair Gold Corporation has entered into a subscription agreement involving a strategic equity investment of C$10-million and a non-binding term sheet for a C$300-million project finance facility with Macquarie Bank. The funds will support the development of Mayfair's Fenn-Gib gold project, in O
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