McFarlane Lake Announces Closing of First Tranche of Upsized $1.3 Million Private Placement Offering
McFarlane Lake Mining (OTCQB:MLMLF) has closed the first tranche of its upsized $1.3 million private placement offering on March 20, 2025. The first tranche raised approximately $1,116,000 through the issuance of 22,320,000 Units at $0.05 per Unit.
Each Unit includes one common share and one-half warrant, with each whole warrant exercisable at C$0.07 per Common Share until September 20, 2026. The company paid $65,900 to eligible finders for introducing purchasers.
Company insiders participated in the first tranche, subscribing for approximately $75,000 worth of Units. The net proceeds will primarily fund exploration activities on the company's Canadian properties, focusing on the McMillan Property, while supporting ongoing exploration at the West Hawk Lake and High Lake Properties. The second tranche is expected to close around the week of March 24, 2025.
McFarlane Lake Mining (OTCQB:MLMLF) ha chiuso la prima tranche della sua offerta di private placement da 1,3 milioni di dollari il 20 marzo 2025. La prima tranche ha raccolto circa 1.116.000 dollari attraverso l'emissione di 22.320.000 Unit a 0,05 dollari per Unit.
Ogni Unit include una azione comune e mezza warrant, con ogni warrant intero esercitabile a C$0,07 per azione comune fino al 20 settembre 2026. L'azienda ha pagato 65.900 dollari a trovatori idonei per aver introdotto acquirenti.
I membri interni dell'azienda hanno partecipato alla prima tranche, sottoscrivendo circa 75.000 dollari in Unit. I proventi netti finanzieranno principalmente le attività di esplorazione sulle proprietà canadesi dell'azienda, concentrandosi sulla McMillan Property, mentre supporteranno l'esplorazione in corso presso le proprietà di West Hawk Lake e High Lake. Si prevede che la seconda tranche si chiuda intorno alla settimana del 24 marzo 2025.
McFarlane Lake Mining (OTCQB:MLMLF) ha cerrado la primera tranche de su oferta de colocación privada de 1,3 millones de dólares el 20 de marzo de 2025. La primera tranche recaudó aproximadamente 1.116.000 dólares a través de la emisión de 22.320.000 Unidades a 0,05 dólares por Unidad.
Cada Unidad incluye una acción común y media opción, con cada opción entera que se puede ejercer a C$0,07 por acción común hasta el 20 de septiembre de 2026. La empresa pagó 65.900 dólares a buscadores elegibles por presentar compradores.
Los miembros internos de la empresa participaron en la primera tranche, suscribiendo aproximadamente 75.000 dólares en Unidades. Los ingresos netos financiarán principalmente actividades de exploración en las propiedades canadienses de la empresa, enfocándose en la McMillan Property, mientras apoyan la exploración en curso en las propiedades de West Hawk Lake y High Lake. Se espera que la segunda tranche cierre alrededor de la semana del 24 de marzo de 2025.
맥팔레인 레이크 마이닝 (OTCQB:MLMLF)는 2025년 3월 20일에 130만 달러 규모의 사모 배정의 첫 번째 분할을 완료했습니다. 첫 번째 분할에서는 22,320,000 유닛을 유닛당 0.05달러에 발행하여 약 1,116,000 달러를 모금했습니다.
각 유닛은 하나의 보통주와 반 개의 워런트로 구성되어 있으며, 각 전체 워런트는 2026년 9월 20일까지 보통주당 C$0.07에 행사 가능합니다. 회사는 구매자를 소개한 적격 중개인에게 65,900달러를 지급했습니다.
회사의 내부 관계자는 첫 번째 분할에 참여하여 약 75,000달러 상당의 유닛을 구독했습니다. 순수익은 주로 회사의 캐나다 자산에 대한 탐사 활동을 지원하며, 맥밀란 자산에 집중하고, 웨스트 호크 레이크 및 하이 레이크 자산에서 진행 중인 탐사를 지원할 것입니다. 두 번째 분할은 2025년 3월 24일 주간에 마감될 것으로 예상됩니다.
McFarlane Lake Mining (OTCQB:MLMLF) a clôturé la première tranche de son offre de placement privé de 1,3 million de dollars le 20 mars 2025. La première tranche a permis de lever environ 1.116.000 dollars grâce à l'émission de 22.320.000 unités à 0,05 dollar par unité.
Chaque unité comprend une action ordinaire et une demi-option, chaque option entière pouvant être exercée à C$0,07 par action ordinaire jusqu'au 20 septembre 2026. L'entreprise a payé 65.900 dollars à des intermédiaires éligibles pour avoir présenté des acheteurs.
Des membres internes de l'entreprise ont participé à la première tranche, souscrivant pour environ 75.000 dollars d'unités. Les produits nets financeront principalement les activités d'exploration sur les propriétés canadiennes de l'entreprise, en se concentrant sur la McMillan Property, tout en soutenant l'exploration en cours sur les propriétés de West Hawk Lake et High Lake. La deuxième tranche devrait se clôturer autour de la semaine du 24 mars 2025.
McFarlane Lake Mining (OTCQB:MLMLF) hat am 20. März 2025 die erste Tranche seines aufgestockten Private Placement-Angebots über 1,3 Millionen Dollar abgeschlossen. Die erste Tranche hat durch die Emission von 22.320.000 Einheiten zu je 0,05 Dollar pro Einheit etwa 1.116.000 Dollar eingenommen.
Jede Einheit umfasst eine Stammaktie und eine halbe Warrants, wobei jede ganze Warrant bis zum 20. September 2026 zu C$0,07 pro Stammaktie ausgeübt werden kann. Das Unternehmen zahlte 65.900 Dollar an berechtigte Finder für die Einführung von Käufern.
Unternehmensinsider nahmen an der ersten Tranche teil und zeichneten Einheiten im Wert von etwa 75.000 Dollar. Die Nettoerlöse werden hauptsächlich zur Finanzierung von Explorationsaktivitäten in den kanadischen Liegenschaften des Unternehmens verwendet, wobei der Fokus auf der McMillan Property liegt, während die laufende Exploration in den Liegenschaften West Hawk Lake und High Lake unterstützt wird. Die zweite Tranche wird voraussichtlich in der Woche vom 24. März 2025 abgeschlossen.
- Successful closing of first tranche raising $1,116,000
- Insider participation of $75,000 showing management confidence
- Proceeds allocated to advance exploration activities across multiple properties
- Dilutive effect of issuing 22,320,000 new units
- Additional dilution expected from second tranche closing
- Warrants could cause further dilution if exercised
TORONTO, ON / ACCESS Newswire / March 20, 2025 / McFarlane Lake Mining Limited (Cboe Canada:MLM) (OTCQB:MLMLF) ("McFarlane Lake" or the "Company"), a Canadian gold exploration and development company, is pleased to announce that on Thursday, March 20, 2025, it closed the first tranche (the "FirstTranche") of its previously announced non-brokered private placement offering of units ("Units") and flow-through shares ("FT Shares") of the Company on March 18, 2025 (the "Offering"). The First Tranche consisted of 22,320,000 Units at a price of
Each Unit consisted of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each, whole warrant a "Warrant"). Each Warrant is exercisable by the holder to acquire one Common Share at a price of C
The Units were offered for sale by way of the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions to purchasers in all the provinces of Canada, except Québec, and in other qualifying jurisdictions. The Common Shares and Warrants issued in connection with the Offering are not subject to resale restrictions pursuant to applicable Canadian securities laws or the policies of Cboe Canada Inc. ("Cboe"). In connection with the Offering, the Company paid
The net proceeds from the Offering will be primarily allocated to exploration activities on the Company's Canadian properties, with a focus on the McMillan Property, while also supporting ongoing exploration at the West Hawk Lake Property and High Lake Property.
The Offering remains subject to final acceptance by Cboe and all regulatory approvals.
Related Party Disclosure
Certain insiders of the Company subscribed for approximately
About McFarlane Lake Mining
McFarlane Lake is a gold exploration company focused on the exploration and development of its portfolio of properties. The past producing McMillan and Mongowin gold properties, located 70 km west of Sudbury, Ontario, the past producing West Hawk Lake property located immediately west of the Ontario-Manitoba border, and the High Lake gold property located immediately east of the Ontario-Manitoba border and 8 km from the West Hawk Lake property. McFarlane Lake also owns the Michaud/Munro mineral property situated 115 km east of Timmins along the so-called "Golden Highway". McFarlane Lake is a "reporting issuer" under applicable securities legislation in the provinces of, British Columbia, Alberta and Ontario.
To learn more, visit: https://mcfarlanelakemining.com/
Additional information on McFarlane Lake can be found by reviewing its profile on SEDAR+ at www.sedarplus.com.
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation, including but not limited to the proposed use of proceeds of the Offering, approval of Cboe for the Offering, the anticipated closing date of future tranches of the Offering. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of McFarlane Lake to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks Factors" in the Company's Annual Information Form dated as of November 27, 2024, which is available for view on SEDAR+ at www.sedarplus.com.
Forward-looking statements contained herein are made as of the date of this press release and McFarlane Lake disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise.
There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Further Information
For further information regarding McFarlane Lake, please contact:
Mark Trevisiol,
Chief Executive Officer, President and Director
McFarlane Lake Mining Limited
(705) 562-8520
mtrevisiol@mcfarlanelakemining.com
SOURCE: McFarlane Lake Mining Limited
View the original press release on ACCESS Newswire
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