Sanu Gold Announces $3.45 Million Private Placement
Summary
Not for dissemination in the United States or through U.S. newswiresVancouver, B.C., September 21, 2023, Sanu Gold Corporation (CSE: SANU; OTCQB: SNGCF) (Sanu Gold or the Company) is pleased to announce a non-brokered private placement (the Placement) of up to 69,000,000 common shares (each, a Common Share) at a price of $0.05 per Common Share for aggregate gross proceeds to the Company of up to $3,450,000.The net proceeds of the Placement will be used to advance exploration on the Companys Bantabaye Gold Exploration Permit in Guinea, West Africa, the Companys other exploration permits in Guinea, West Africa and for general working capital purposes. Any such participation would be considered to be a related party transaction as defined under Multilateral Instrument 61-101 (MI 61-101). The Placement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25% of the Companys market capitalization.This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.The scientific and technical information contained in this press release has been reviewed and approved by Serigne Dieng, Ph.D., M.Sc., a Member (MAIG) of the Australian Institute of Geoscientists (AIG), Exploration Manager of the Company and a qualified person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects.Located within the Siguiri Basin, a world class gold district that is host to several operating mines and major new discoveries, Sanu Gold is exploring three high quality gold exploration permits in Guinea, West Africa. Sanu is operated by a highly experienced team, with successful records of discovery, resource development and mine permitting.For further information regarding Sanu Gold, please visit the Companys website at www.sanugoldcorp.com or contact: