Sranan Gold announces private placement of up to $3 million

Sranan Gold Corp. (CSE: SRAN) (OTCQB: SRANF) (FSE: P84) announced a non-brokered private placement of up to 20 million units at $0.15 per unit for aggregate gross proceeds of up to $3 million. Concept Capital Management Ltd. leads the offering with an $800,000 investment.

Each unit consists of one common share and one-half common share purchase warrant. Each warrant allows the holder to acquire one share at $0.275 for 48 months from the issuance date.

The units will be offered to accredited investors under prospectus exemptions in accordance with National Instrument 45-106. All shares issued will be subject to a four-month and one-day hold period from any closing date. The company may pay finders' fees of up to 6% for certain purchasers introduced by arm's-length persons.

The offering is expected to close on or before May 31, 2026, subject to customary closing conditions and Canadian Securities Exchange approval.

Sranan plans to use net proceeds for a 5,000-meter diamond drilling program at Randy's Pit and a 5,000-meter Phase one drilling campaign at Poeketi, both on the Tapanahony Project in Suriname. The funds will also support field exploration along the South Intrusion and West Poeketi targets.

Additional proceeds will fund field work, mapping, sampling and exploration activities on the recently acquired Lawatino concession in the Lawa region along the Central Guiana Shear Zone. The remaining funds will address working capital requirements and general corporate purposes including marketing initiatives.

Sranan operates in mineral exploration and acquisition of mineral property assets in Suriname. The company's Tapanahony Project covers 29,000 hectares, while the Lawatino Project encompasses 18,468 hectares in southeastern Suriname.

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