Banyan Gold Corp. (TSXV:BYN) announced a private placement of 5,357,143 flow through shares at CAD 0.28 for proceeds of CAD 1,500,000 and approximately 3,076,924 charity flow through shares at CAD 0.325 for proceeds of CAD 1,000,000 for an aggregate gross proceeds of CAD 2,500,000 on December 21, 2020. As of the same day the company issued 5,357,143 flow through shares at CAD 0.28 for proceeds of CAD 1,500,000 in its first tranche closing. The tranche included participation from certain insiders of the company for 1,001,359 flow through shares and proceeds of CAD 280,380. As a part of tranche, the company will pay a finders’ fee of CAD 33,860. The second tranche of charity flow through shares is expected to close on or around December 29, 2020. All securities issued pursuant to the first tranche are subject to a statutory hold period of four months and one day. The transaction remains subject to the final approval of the TSX Venture Exchange. The company announced that TSX venture exchange has accepted filling documentation for the transaction. The transaction included participation from 22 placees and insiders John McConnell for 879,930 shares, Mark Ayrant for 50,000 shares, Paul Gray for 71,429 shares . The company paid finders fee's of CAD 32,599.99 to PI Financial, CAD 1,260 to Echelon Wealth Partners in cash.