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Sylla Gold Corp. (SYGCF) is a mining company based in Bedford, Nova Scotia. The company focuses on gold exploration and has recently acquired a 100% interest in the Deguefarakole exploration licence at its Niaouleni Gold Project in the Republic of Mali. With a vast land package covering 17,200 sq. km., Sylla's exploration work has shown promising results, with significant gold grades encountered in multiple drill holes. In addition to its Mali project, the company has expanded its portfolio by entering into a share purchase agreement with Namibia Critical Metals Inc., acquiring four gold prospective properties in Namibia's Central Namibian Gold Belt. Sylla's strategic acquisitions and exploration activities position it well for future growth and value creation in the gold mining sector.
Sylla Gold Corp (TSXV: SYG) (OTCQB: SYGCF) has announced the issuance of unsecured non-interest bearing promissory notes totaling $97,500. The notes were issued to both arm's length and non-arm's length creditors, including company directors and officers, making this a related party transaction. The principal amounts will be used for general working capital purposes and are payable upon demand.
The transaction requires TSX Venture Exchange approval and falls under MI 61-101 regulations. The company is exempt from valuation and minority shareholder approval requirements as it's not listed on a specified market and the insider-held notes don't exceed 25% of market capitalization. Sylla expedited the closing process, foregoing the standard 21-day material change report filing period.
Sylla Gold Corp. (TSXV: SYG) (OTCQB: SYGCF) has completed a non-brokered private placement, raising $160,000 through the issuance of 3,200,000 units at $0.05 per unit. Each unit consists of one common share and one warrant, with warrants exercisable at $0.07 for 18 months. The company paid $4,900 in finder's fees and issued 98,000 finder's warrants. Proceeds will be used for working capital and general corporate purposes. Securities are subject to a four-month hold period. Additionally, Sylla Gold has decided not to proceed with the previously announced acquisition of exploration licenses in Namibia from Namibia Critical Metals Inc.
Sylla Gold has amended its share purchase agreement with Namibia Critical Metals to acquire four gold properties in Namibia. The properties are located in Grootfontein, Erongo, Otjiwarongo, and Kaoko. The acquisition involves Sylla acquiring 95% interests in NMI's Namibian subsidiaries for 3,000,000 common shares at $0.05 per share and a $100,000 cash payment. The closing date is extended to August 31, 2024. Approval from the TSX Venture Exchange and regulatory bodies is pending.
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