Baru Gold Corp. (TSX-V:BARU) told investors it has increased its previously announced non-brokered private placement offering due to strong demand.
The company will now issue up to 3,875,000 units at $0.04 per unit for total proceeds of $155,000, up from $100,000 previously. Each unit will comprise one common share and one non-transferable common share purchase warrant with specific exercise prices over a two-year period.
The funds will go towards working capital and pre-production expenses as it awaits the issuance of an upgrade to Production Operation status by the State of Activity.