Firefox Gold Announces Non-Brokered Private Placement

Rhea-AI Summary

FireFox Gold Corp. (TSX.V:FFOX)(OTCQB:FFOXF) plans to raise up to $1,000,000 through a non-brokered private placement, offering up to 10,000,000 units at $0.10 each. Each unit comprises one common share and one-half warrant, exercisable at $0.18 for two years. Proceeds will fund exploration at the Mustajärvi project and other properties in Finland. The private placement is expected to close around September 30, 2022, and shares will have a four-month hold period.

Positive

• Planned raise of up to $1,000,000 through non-brokered private placement.
• Funding will support drilling and exploration activities in Finland.
• Finland is a top mining investment jurisdiction, enhancing prospectivity.

Negative

• None.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

VANCOUVER, BC / ACCESSWIRE / September 21, 2022 / FireFox Gold Corp. (TSX.V:FFOX)(OTCQB:FFOXF) (""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 10,000,000 units of the Company ("Units") at a price of $0.10 per Unit. Each Unit will consist of one common share of the Company ("Common Share") and one-half 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 $0.18 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, drilling on FireFox's Mustajärvi project, and other exploration activities on the Company's other gold exploration properties in Finland. Prior to this financing, FireFox has 119.5 million shares outstanding, 18.2 million warrants outstanding, 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 September 30, 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 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: +1-778-938-1994

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/716806/Firefox-Gold-Announces-Non-Brokered-Private-Placement

FAQ

What is the purpose of FireFox Gold's private placement announced on September 21, 2022?

The private placement aims to raise up to $1,000,000 for general working capital and exploration activities at the Mustajärvi project and other properties in Finland.

What is the price and structure of the units in the FireFox Gold private placement?

The units are priced at $0.10 each, consisting of one common share and one-half warrant, with each whole warrant exercisable at $0.18 for two years.

When is the expected closing date for FireFox Gold's private placement?

The private placement is expected to close on or about September 30, 2022.

How many shares and warrants does FireFox Gold have outstanding prior to the placement?

Prior to the placement, FireFox Gold has 119.5 million shares and 18.2 million warrants outstanding.