Baru Gold Corporation announced a non-brokered private placement to issue 2,500,000 units at an issue price of CAD 0.04 for the gross proceeds of CAD 100,000 on October 3, 2023. Each unit will comprise one common share and one non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase over two years one additional share at an exercise price of CAD 0.07 for the first year and CAD 0.10 for the second year.

The financing is expected to close on or before October 11, 2023. The private placement is subject to regulatory approval, and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. In connection with the private placement, the company may pay finders' fees in cash or securities, or a combination of both, as may be permitted by the policies of the exchange.