Sranan Gold closes $3.6 million private placement

Sranan Gold Corp. (CSE: SRAN) (OTCQB: SRANF) (FSE: P84) completed a non-brokered private placement raising $3.59 million in gross proceeds, according to a company statement.

The company issued 23.9 million units at $0.15 per unit. Each unit includes one common share and half of one warrant, with each full warrant allowing the purchase of an additional share at $0.275 for 48 months from closing.

"We appreciate the strong support shown for this financing - both from new investors and from our existing shareholders," said Oscar Louzada, chief executive officer of Sranan Gold. "This financing fully funds an aggressive 12,500-metre drill program across our Tapanahony Project and allows us to break ground on exploration at Lawatino."

Company director Ron Shenton purchased 268,000 units in the placement, constituting a related party transaction under Canadian securities regulations. The transaction qualified for exemptions from valuation and minority shareholder approval requirements.

Sranan paid $106,689 in finder's fees and issued 1.25 million finder's warrants exercisable at $0.15 for 48 months. All securities are subject to a four-month hold period under Canadian securities laws.

The company plans to use proceeds for its Suriname exploration portfolio, including a 12,500-meter diamond drilling program at the Tapanahony Project to test high-grade gold mineralization at Randy's Pit and the Poeketi Zone.

Sranan acquired the Lawatino Gold Project in February 2026, located adjacent to Founders Metals' Antino Property. The company completed a fracture density survey identifying structural targets along the Central Guiana Shear Zone.

The offering remains subject to final approval from the Canadian Securities Exchange.

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