Sylla Gold Announces Closing of Fully Subscribed Private Placement of Units

Core Viewpoint - Sylla Gold Corp. has successfully closed a non-brokered private placement, raising gross proceeds of $2,300,000 through the issuance of 46,000,000 units, each priced at $0.05 [1][2]. Group 1: Offering Details - The Offering consists of 46,000,000 units, with each unit comprising one common share and one common share purchase warrant, allowing the holder to acquire one common share at $0.05 for two years [1]. - The net proceeds from the Offering will be utilized for advancing exploration and permitting at the Niaouleni Gold Project, as well as for working capital and general corporate purposes [2]. Group 2: Use of Proceeds - Proceeds are specifically aimed at renewing the flagship Deguefarakole licence and facilitating option agreements on three additional licences within the Niaouleni land package, enhancing the district-scale potential of the project [2]. Group 3: Financial Transactions - The Company paid a total of $47,250 in cash finder's fees and issued 945,000 finder's warrants, each allowing the holder to acquire one common share at $0.05 until February 25, 2028 [3]. Group 4: Regulatory Compliance - The Offering is subject to final acceptance by the TSX Venture Exchange, and all securities issued are under a hold period of four months plus one day from the issuance date [4]. Group 5: Related Party Transactions - The Offering included a related party transaction, with an insider subscribing for 200,000 units, and the Company is relying on exemptions from certain requirements under MI 61-101 [6].