Edmonton, Alberta--(Newsfile Corp. - June 12, 2025) - Sranan Gold Corp. (CSE: SRAN) (FSE: P84) (Tradegate: P84) ("Sranan" or the "Company") announces that it has closed its non-brokered private placement financing previously announced on May 30, 2025, and updated on June 4, 2025. The Company issued 21,242,500 common shares for total gross proceeds of C$8,497,000.
Oscar Louzada, CEO of Sranan Gold, commented: "We are pleased to close our oversubscribed private placement which was upsized from C$3 million to C$8 million. We thank our investors for their continued support and confidence in the district-scale potential of the Tapanahony Gold Project in Suriname, and look forward to providing an update soon on the prospective drill targets identified for upcoming exploration."
In connection with the sale of the Shares, the Company paid a total of C$174,790 in cash, and issued 442,600 finder's warrants (the "Finder's Warrants"), to eligible finders for certain of the Shares sold. Each Finder's Warrant entitles the holder to purchase one common share of the Company at a price of C$0.40 per common share for a period of 2 years from the date of issuance.
All securities issued are subject to a hold period until October 13, 2025, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange ("CSE"). The net proceeds will be utilized for general working capital and the Company's expanded drilling program of up to 10,000 meters at the Tapanahony Project.
The Offering remains subject to no objections from the CSE. Please refer to the Company's news releases dated May 30, 2025 and June 4, 2025, for additional information on the Offering.
About Sranan Gold
Sranan Gold Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Suriname. The highly prospective Tapanahony Project is located in the heart of Suriname's modern-day gold rush. Tapanahony covers 29,000 hectares in one of the oldest and largest small-scale mining areas in Suriname. There is significant production from saprolite by local miners along a 4.5-kilometre trend, where several areas of mining have been opened.
Sranan Gold is also exploring its Aida Property consisting of five mineral claims covering an area of 2,335.42 hectares on the Shuswap Highland within the Kamloops Mining Division.
For more information, visit sranangold.com.
Information contact
Oscar Louzada, CEO
+31 6 25438975
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
Forward-looking statements
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company's exploration plans and results. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release.
Forward-looking statements in this release but are not limited to, statements with respect to the expectations of management regarding the Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, and no objection from the CSE in respect of the Offering. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include the CSE objecting to the Offering; the proceeds of the Offering may not be used as stated in this release; Sranan may be unable to satisfy all of the conditions to the closing required by the CSE. Sranan does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.
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