FireFox Gold Announces Non-Brokered Private Placement

Rhea-AI Summary

FireFox Gold Corp. plans to raise up to $1,000,000 through a non-brokered private placement, offering 7,142,857 units at $0.14 per unit. Each unit includes one common share and one warrant, with a two-year exercise price of $0.21 for the warrants. Funds will be allocated for general working capital and exploration in Finland, where the company holds significant gold exploration properties. The placement is expected to close by June 28, 2022, and shares will be subject to a four-month hold period.

Positive

• Raising up to $1,000,000 to support exploration and working capital.
• Strong market potential in Finland's underexplored gold sector.

Negative

• Potential dilution of existing shares due to new issuance from the private placement.

VANCOUVER, BC / ACCESSWIRE / June 14, 2022 / FireFox Gold Corp. ("FireFox" or the "Company") announces that it intends to raise up to $1,000,000 by way of a non-brokered private placement (the "Private Placement"). The Private Placement will consist of up to 7,142,857 units of the Company ("Units") at a price of $0.14 per Unit. Each Unit will consist of one common share of the Company ("Common Share") and one common share purchase warrant ("Warrant"), with each whole Warrant being exercisable to acquire one common share of the Company (a "Warrant Share") at an exercise price of $0.21 per Warrant Share for a term of two years following the closing of the Offering.

It is anticipated that the proceeds of the Private Placement will be used for general working capital and exploration activities on FireFox's gold exploration properties in Finland. Prior to this financing, FireFox has 112.7 million shares outstanding, 27.1 million warrants, and 7.6 million stock options issued.

The Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The Company anticipates that the Private Placement will close on or about June 28, 2022. The Company expects to pay finder's fees in association with this financing.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture Stock Exchange under the ticker symbol FFOX. FireFox also trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The Company has been exploring for gold in Finland since 2017 where it holds a huge portfolio of prospective ground.

Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top-10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.

For more information, please refer to the Company's website www.firefoxgold.com and profile on the SEDAR website at www.sedar.com.

On behalf of the Board of Directors,

"Carl Löfberg"
Chief Executive Officer

CONTACT:

FireFox Gold Corp.
Email: info@firefoxgold.com
Telephone: +1-778-244-8439

Forward Looking Statements

The information herein contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include changes in world commodity markets, equity markets, the extent of work stoppage and economic impacts that may result from the COVID 19 virus, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry.

SOURCE: FireFox Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/705058/FireFox-Gold-Announces-Non-Brokered-Private-Placement

FAQ

What is the purpose of FireFox Gold's private placement?

The proceeds will be used for general working capital and exploration activities on its properties in Finland.

How much is FireFox Gold aiming to raise through the private placement?

FireFox Gold intends to raise up to $1,000,000.

What is the price per unit in the FireFox Gold private placement?

Units are priced at $0.14 each.

When is the expected closing date for the private placement?

The private placement is anticipated to close on or about June 28, 2022.

What is the exercise price of the warrants associated with the private placement?

The exercise price of the warrants is $0.21 per share.