Baru Gold Corporation announced a private placement of up to 3,333,333 units at price of CAD 0.03 per unit for gross proceeds of CAD 100,000 on June 16, 2023. Each unit will comprise one common share and one 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 0.05 for the first year and CAD 0.001 for the second year.

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. 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. All funds are denominated in Canadian dollars.

The financing is expected to close on or before June 23, 2023.