Baru Gold Corporation announced a non-brokered private placement of up to 75,000,000 units at an issue price of CAD 0.02 per unit for the gross proceeds of CAD 1.5 million on January 4, 2023. Each unit will be comprised of one common share and one non-transferable common share purchase warrant. Each Warrant will entitle the holder to purchase one additional share at an exercise price of CAD 0.05 for one year and CAD 0.10 for the second year from the date such warrant is issued.

The transaction is subject to regulatory approval and all securities to be issued pursuant to the transaction are subject to a four-month hold period under applicable Canadian securities laws. All funds are denominated in Canadian dollars. In connection with the transaction, the company may pay finder's fees in cash or securities, or a combination of both, as permitted by the policies of the exchange.

The transaction is expected to close on or before February 15, 2023.