Sylla Gold Announces Non-Brokered Private Placement of Units for up to $2,300,000

Rhea-AI Summary

Sylla Gold (OTC: SYGCF) announced a non-brokered private placement to raise up to $2,300,000 by issuing up to 46,000,000 units at $0.05 per unit. Each unit includes one common share and one warrant exercisable at $0.05 for two years.

Proceeds are earmarked for advancing exploration, permitting and licence renewals at the Niaouleni Gold Project in Mali, working capital, and potential repayment of liabilities. The offering may include finder cash fees and finder warrants equal to 7% of proceeds and units sold, subject to TSXV approval and standard hold periods.

Positive

• $2.3M potential financing to fund exploration
• Up to 46,000,000 units available at $0.05 each
• Proceeds dedicated to Niaouleni licence renewal and permitting

Negative

• Issuance could create material dilution via 46,000,000 new shares
• Warrants allow share purchase at $0.05 for two years
• Finder fees and warrants equal to 7% of offering

Bedford, Nova Scotia--(Newsfile Corp. - January 28, 2026) - Sylla Gold Corp. (TSXV: SYG) (OTC Pink: SYGCF) ("Sylla" or the "Company") is pleased to announce its intention to complete a non-brokered private placement of up to $2,300,000 through the issuance of up to 46,000,000 units in the capital of the Company (the "Units") at a price of $0.05 per Unit (the "Offering"). Gross proceeds of the Offering are expected to be used to advance exploration and permitting objectives for the Company's Niaouleni Gold Project and for working capital and general corporate purposes, including, as applicable, the payment of accounts payable and the repayment of loans.

Each Unit consists of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.05 per Common Share for a period of two (2) years from the date of issuance.

The net proceeds of the Offering are intended to position the Company to proceed with the renewal of its flagship Deguefarakole licence including approval of associated work programs as well as facilitating the exercise of option agreements on the remaining three licences within the Company's highly prospective Niaouleni land package. Such consolidation of these licences represents a significant step toward unlocking the district-scale potential of Niaouleni, which is strategically located within the Koulikoro Region of southwest Mali, a well-endowed gold belt, proximal to several advanced-stage deposits and development projects.

In connection with the Offering, the Company may pay certain eligible finders a cash commission equal to 7% of the gross proceeds of the Offering and may issue such number of finder's warrants (each, a "Finder Warrant") as is equal to 7% of the Units sold pursuant to the Offering. Each Finder Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.05 per Common Share until the date that is two (2) years from the date of issuance.

Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSXV. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

For more information, please contact:

Regan Isenor
President and Chief Executive Officer
Tel: (902) 233-4381
Email: risenor@syllagold.com

Neither the 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.

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281841

FAQ

What is Sylla Gold (SYGCF) raising in the January 28, 2026 private placement?

Sylla Gold is seeking to raise up to $2,300,000 through a non-brokered private placement. According to the company, proceeds will support exploration, permitting and licence renewals at the Niaouleni Gold Project and general corporate purposes.

How many units and what price per unit is Sylla Gold (SYGCF) offering?

The offering consists of up to 46,000,000 units at $0.05 per unit. According to the company, each unit includes one common share and one warrant exercisable at $0.05 for two years.

What do the warrants included in Sylla Gold (SYGCF) units allow holders to do?

Each warrant permits the purchase of one common share at $0.05 for two years from issuance. According to the company, warrants will be subject to standard hold periods and TSXV approval where applicable.

How will Sylla Gold (SYGCF) use the net proceeds from the private placement?

Net proceeds will advance exploration, permitting and licence renewal at Niaouleni and provide working capital. According to the company, funds may also be used to pay accounts payable and repay loans as needed.

Will Sylla Gold (SYGCF) pay finder fees for the offering and what are the terms?

Yes, the company may pay cash commissions equal to 7% of gross proceeds and issue finder warrants equal to 7% of units sold. According to the company, finder warrants are exercisable at $0.05 for two years.

What approvals and restrictions apply to the Sylla Gold (SYGCF) private placement closing?

Closing requires corporate and regulatory approvals, including TSXV approval, and securities will have a four-month-plus-one-day hold period. According to the company, resale will follow applicable securities legislation and exchange rules.