Baru Gold Corp. has launched a non-brokered private placement aiming to raise up to $240,000 to support working capital requirements at the Sangihe Gold Project in North Sulawesi, Indonesia.

The financing consists of up to 4,000,000 units priced at $0.06 per unit. Each unit comprises one common share and one non-transferable common share purchase warrant. Each warrant allows the holder to buy an additional common share at an exercise price of $0.10 over a two-year period. The placement is scheduled to close on or before September 16, 2026.

Under the terms of the offering, the placement is subject to potential re-pricing if the company’s stock price increases following news releases. Participation by company insiders constitutes a related party transaction under Multilateral Instrument 61-101, though it is exempt from formal valuation and minority shareholder approval requirements because the value of the securities acquired does not exceed 25% of the company's market capitalisation. The transaction remains subject to regulatory approvals, and all issued securities will carry a four-month hold period under Canadian securities laws.

Baru holds a 70% interest in the Sangihe mineral-tenement Contract of Work through its subsidiary PT. Tambang Mas Sangihe, with the remaining 30% held by other Indonesian corporations. The company intends to advance the project toward production without first establishing mineral reserves supported by a feasibility study, a path that introduces increased technical and economic uncertainties.

To support its broader development timeline, Baru previously secured a binding preliminary agreement with Quantum Metal Thailand, later rebranded to Quantum X Aurum Group, contemplating up to US$100 million in funding to build out gold production and refining capacity at Sangihe. Additionally, the company received communication from the Indonesian Ministry of Energy and Mineral Resources outlining administrative document updates required to complete its application for Production Operations.

Read the full announcement: Baru Gold Announces Private Placement