BARU GOLD Closes First Tranche of Financing
News Release
January 26, 2023 Trading Symbol: “BARU: TSX.V | BARUF: OTCQB”
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
BARU GOLD CLOSES FIRST TRANCHE OF FINANCING
Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) announce s that it has closed
$140,800.00, issuing 7,040,000 Units in the first tranche of the $1.5 million financing previously
announced on January 4, 2023. Each unit will be comprised of one common share in the capital of
the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each full Warrant
shall be exercisable into one Share for 2 ye ars from the date such Warrant is issued at an exercise
price of $0.05 for the first year and $0.10 for the second year. The private placement (the “ Private
Placement”) consists of up to 75,000,000 units priced at $0.02 per unit (the “ Unit”). The proceeds
raised from the Private Placement will be used for immediate working capital commitments at the
Sangihe Gold project.
Mr. Terry Filbert, CEO of Baru, commented, “This first tranche represents the subscriptions
received within the first few days following the announcement of the private placement. The funds
will be used for working capital commitments. The response on the private placement has been very
positive from both new and long- term investors. T he Company anticipates that with Baru’s
continued positive momentum and the recent increase in the price of gold that the private placement
will be fully subscribed in the coming weeks.”
In this tranche, finder’s fees of $3,290.00 are payable in cash on a portion of the private placement to
parties at arm’s length to the Company. In addition, 164,500 non- transferable finder’s warrants to
purchase up to 164,500 Shares are being issued (the “ Finder’s Warrants”), the Finder’s Warrants
having the same terms as the Warrants.
All securities issued in the first tranche of the Private Placement will be subject to a four-month hold
period expiring May 25, 2023.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory approvals, including acceptance of the TSX Venture Exchange.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any state in which such offer , solicitation or sale would be
unlawful. The securities have not been registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements.
Baru Gold Corporation
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
www.barugold.com
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project ( “Sangihe”) is located on the Indonesian island of Sangihe, off the
northern coast of Sulawesi. Sangihe has an existing National Instrument 43- 101 inferred mineral
resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's
“Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone
Deposits, Sangihe Project, North Sulawesi, Indonesia ” (May 30, 2017). Readers are cautioned that
mineral resources that are not mineral reserves do not have demonstrated economic viability.
The Company intends to proceed to production without the benefit of first establishing mineral
reserves supported by a feasibility study. The Company cautions readers that the any production
decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves
that demonstrates economic and technical viability and as such, there may be involved increased
uncertainty and various technological and economic risks
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work (“CoW”) is
held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held
by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon
commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its
environmental permit.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI 43 -101 gold resources in
Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North
America, Baru’s team boasts extensive experience in starting and operating small-scale gold assets.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this N ews Release, which are not historical in nature, constitute “ forward looking statements ”
within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not
limited to, statements or information concerning future work programs, results and timing of any work programs, the
Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions
and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and
uncertainties and other factors which may cause actual results, performance or events to be materially different from
those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results;
the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining
results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate
financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing
risks; general