The Prospector News

First Mining Closes Upsized $24.4 Million Non-Brokered Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

First Mining Closes Upsized $24.4 Million Non-Brokered Private Placement

 

 

 

 

 

First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce that it has upsized and closed its previously announced non-brokered private placement financing raising total gross proceeds of approximately $24.4 million. Together with the previously closed public offering of $12.0 million on July 22, 2025, the Company raised a total of $36.4 million between the Offering and the Public Offering.

 

Pursuant to the Offering, the Company issued 95,000,000 units of the Company at a price of $0.18 per Unit for gross proceeds of $17,100,000 and 33,350,000 flow-through units at a price of $0.22 per FT Unit for gross proceeds of $7,337,000. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each FT Unit will consist of one FT Share and one-half of a Warrant.  Each Warrant will entitle the holder to acquire one Common Share of the Company at a price of $0.27 per share at any time prior to the date which is 36 months following the applicable closing date of the Offering.

 

Each FT Share will qualify as a “flow-through share” within the meaning of the Income Tax Act (Canada). The net proceeds from the sale of Units under the Offering will be used to advance First Mining’s Springpole and Duparquet gold projects, as well as for general working capital and corporate purposes. The gross proceeds from the sale of FT Units will be used to incur eligible “Canadian exploration expenses” that qualify as “flow through mining expenditures” as such terms are defined in the Income Tax Act (Canada) related to the Springpole and Duparquet gold projects on or before December 31, 2026.  All Qualifying Expenditures will be renounced with an effective date no later than December 31, 2025 to the initial purchasers of the FT Units.

 

All of the securities issued under the Offering are subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

 

About First Mining Gold Corp. 

 

First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold Project in northwestern Ontario, where we have commenced a Feasibility Study and permitting activities are on-going with a final Environmental Impact Statement / Environmental Assessment for the project submitted in November 2024, and the Duparquet Gold Project in Quebec, a PEA-stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns the Cameron Gold Project in Ontario and a portfolio of gold project interests including the Pickle Crow Gold Project (being advanced in partnership with Firefly Metals Ltd.) and the Hope Brook Gold Project (being advanced in partnership with Big Ridge Gold Corp.).

 

First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of First Majestic Silver Corp.

Posted August 6, 2025

Share this news article

MORE or "UNCATEGORIZED"


PTX Metals Inc. Announces Second Closing of Private Placement

PTX Metals Inc. (TSX-V: PTX) is pleased to announce the closing of the second tranche (with an addit... READ MORE

October 2, 2025

Lion One Produces 5,704 Tonnes at 10.60 g/t Gold from First Shrinkage Stope at Tuvatu and Increases Underground Development Rates by 70%

Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) is pleased to provide an update on mining opera... READ MORE

October 2, 2025

ESGold Secures C$9 Million Strategic Partnership with Ocean Partners as Montauban Progress Accelerates

ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (FSE: Z7D) is pleased to announce it has entered into a bind... READ MORE

October 2, 2025

Erdene Announces Updated Resource for the Zuun Mod Molybdenum-Copper Deposit

Erdene Resource Development Corp. (TSX:ERD) (MSE:ERDN) (OTCQB:ERDCD) is pleased to announce a... READ MORE

October 2, 2025

Copper Giant Achieves Up To 92% Copper And 97% Molybdenum Recoveries In Latest Metallurgical Testwork At Mocoa

Copper Giant Resources Corp. (TSX-V: CGNT) (OTCQB: LBCMF) (FRA: 29H0) announces results from i... READ MORE

October 2, 2025

Copyright 2025 The Prospector News