Baru Gold Corp., a junior gold explorer with assets in Indonesia, announced on September 18, 2026 that it will enlarge its recently launched non-brokered private placement. After the initial offer of $240,000 was fully subscribed, the company responded to additional investor interest by increasing the ceiling to 5,643,150 units, each priced at $0.06. The extra capital – totalling $338,589 – is earmarked for working capital requirements and to keep momentum on the Sangihe Gold Project. The transaction is slated to close on or before September 22, 2026, pending the usual regulatory approvals under Canadian securities law.
Structure of the expanded offering
Every unit in the new raise comprises one common share of Baru Gold and one non-transferable common share purchase warrant. The warrant grants the holder the right, over a two-year window, to buy an additional share at an exercise price of $0.10. This pricing mechanism provides investors with upside potential while preserving the company’s cash flow. All securities issued in the placement are subject to a four-month hold period, as required by the TSX Venture Exchange, and the proceeds will be received in Canadian dollars.
In line with the exchange’s policies, Baru may compensate finders in cash, securities, or a blend of both. The units are not registered under the United States Securities Act of 1933; consequently, they cannot be offered or sold to U.S. persons without a proper exemption or registration. These restrictions are standard for private placements of this nature and underscore the importance of compliance with cross-border securities regulations.
Sangihe Gold Project and company outlook
The capital raised will flow into the Sangihe Gold Project located on the Indonesian island of Sangihe, north of Sulawesi. The project covers roughly 25,000 hectares, but only 10% of the gold-bearing ground has been explored to date. A National Instrument 43-101 technical report dated February 1, 2025 estimates more than 200,000 ounces of gold resources within the initial 65-hectare mining zone (114,000 ounces indicated and 91,000 ounces inferred), together with over 3 million ounces of silver. While these figures represent resources—not reserves—the company plans to commence small-scale production without first completing a full feasibility study, a strategy that introduces additional technical and economic risk.
Baru holds a 70% interest in the Contract of Work through its Indonesian subsidiary PT. Tambang Mas Sangihe (TMS); the remaining 30% is owned by local partners. The agreement runs for 30 years from the start of production, and the firm has already secured the necessary environmental permits from the Indonesian government. Frank Rocca, the company’s chief geologist, serves as the qualified person under NI 43-101 and has signed off on the technical disclosures. CEO Terry Filbert and investor-relations lead Kevin Shum are the primary contacts for potential investors seeking further details.
