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

Rhea-AI Summary

FireFox Gold Corp. has successfully completed the second and final tranche of its non-brokered private placement, raising $506,000 by issuing 5,060,000 units at $0.10 per unit. Each unit consists of one common share and one-half warrant, with a full warrant exercisable at $0.18 for two years. Proceeds will support general corporate purposes and exploration activities in Finland. The company has a strong position in a highly prospective gold exploration region, backed by a knowledgeable local team.

Positive

• Raised $506,000 from the private placement to support corporate purposes and exploration.
• The issuance of warrants at $0.18 per share indicates confidence in future growth.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / November 16, 2022 / FireFox Gold Corp. ("FireFox" or the "Company") announces, effective November 15, 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 September 21, 2022.

FireFox has raised gross proceeds of $506,000 by issuing 5,060,000 units of the Company at a purchase price of $0.10 per unit. Each unit consists of one common share of the Company and one-half common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the Company at an exercise price of $0.18 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 paid to qualified finders $1,800 in cash finders fees and issued 18,000 finders warrants exercisable at $0.18 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/726178/Firefox-Gold-Closes-Second-and-Final-Tranche-of-Non-Brokered-Private-Placement

FAQ

What amount did FireFox Gold Corp raise in the private placement on November 15, 2022?

FireFox Gold Corp raised $506,000 in the private placement.

What is the exercise price of the warrants issued by FireFox Gold?

The exercise price of the warrants is $0.18 per share.

How many units were issued in the final tranche of FireFox Gold's private placement?

A total of 5,060,000 units were issued in the final tranche.

What will the proceeds from the private placement be used for?

The proceeds will be used for general corporate purposes and exploration activities in Finland.

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

The ticker symbol for FireFox Gold Corp on the OTCQB is FFOXF.