Firefox Gold Closes Second and Final Tranche of Non-Brokered Private Placement

Rhea-AI Summary

FireFox Gold Corp. has completed the second tranche of its non-brokered private placement, raising an additional $50,000 to total gross proceeds of $502,010. The final tranche involved issuing 357,143 units at <$0.14 each, with warrants exercisable at $0.21 for two years. Proceeds will be used for general corporate purposes, working capital, and exploration in Finland, a top mining jurisdiction. Additionally, $2,520 will be paid in finders fees, along with 15,000 finders warrants.

Positive

• Total gross proceeds from the Private Placement reached $502,010.
• Successful completion of second tranche indicates strong investor interest.
• Funds allocated for exploration in Finland, a highly prospective gold region.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / July 8, 2022 / FireFox Gold Corp. ("FireFox" or the "Company") announces, effective July 7, 2022 that, subject to regulatory acceptance, it has completed the second and final tranche of the non-brokered private placement (the "Private Placement") announced on June 14^th, 2022. In completing the second tranche, FireFox has increased the total gross proceeds of the Private Placement to $502,010.

In this final tranche, the Company has raised gross proceeds of $50,000 by issuing 357,143 units of the Company at a purchase price of $0.14 per unit. Each unit consists of one common share of the Company and one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the Company at an exercise price of $0.21 per share for a term of two years from the date of issuance. 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 intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox's gold exploration properties in Finland.

FireFox will pay to qualified finders $2,520 in cash finders fees and will issue 15,000 finders warrants exercisable at $0.21 for 2 years from the date of issuance in association with the first tranche of the Private Placement.

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: carl@firefoxgold.com
Telephone: 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.

Forward-looking statements in this release may include statements regarding: the expected total financing amounts, terms, and timeframe; and the current and future work program, including the extent and nature of exploration to be conducted in 2020. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary. The forward-looking statements contained herein represent the expectations of FireFox as of the date of dissemination and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. FireFox does not undertake to update this information at any particular time except as required in accordance with applicable laws.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

SOURCE: FireFox Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/707982/Firefox-Gold-Closes-Second-and-Final-Tranche-of-Non-Brokered-Private-Placement

FAQ

What is the total amount raised in FireFox Gold's private placement?

FireFox Gold raised a total of $502,010 from its non-brokered private placement.

What was the unit price for the final tranche of FireFox Gold's private placement?

The final tranche units were issued at a price of $0.14 each.

What will FireFox Gold do with the proceeds from the private placement?

The proceeds will be used for general corporate purposes, working capital, and exploration activities.

What are the details of the warrants issued with the private placement?

Each unit includes a warrant exercisable for one additional common share at $0.21 for a term of two years.

What is the ticker symbol for FireFox Gold on the OTCQB?

FireFox Gold trades under the ticker symbol FFOXF on the OTCQB Venture Market.