FireFox Gold Closes First Tranche of Non-Brokered Private Placement
FireFox Gold (OTCQB:FFOXF) has completed the first tranche of its non-brokered private placement, raising $3.79 million by issuing 94.7 million units at $0.04 per unit. Each unit includes one common share and one warrant exercisable at $0.06 for three years.
The company plans to complete a second tranche by August 15, 2025, targeting a total raise of $7 million. Notably, company insiders purchased 13.87 million units in the first tranche. FireFox will also implement a 10-for-1 share consolidation around August 15, 2025.
The proceeds will fund mineral exploration in northern Finland and working capital. The company will pay $88,186 in finder's fees and issue 2.19 million finder's warrants.
FireFox Gold (OTCQB:FFOXF) ha completato la prima tranche della sua collocazione privata senza intermediari, raccogliendo 3,79 milioni di dollari attraverso l'emissione di 94,7 milioni di unità al prezzo di 0,04 dollari per unità. Ogni unità comprende una azione ordinaria e un warrant esercitabile a 0,06 dollari per tre anni.
L'azienda prevede di completare una seconda tranche entro il 15 agosto 2025, con l'obiettivo di raccogliere complessivamente 7 milioni di dollari. Da notare che gli insider della società hanno acquistato 13,87 milioni di unità nella prima tranche. FireFox effettuerà inoltre una consolidazione azionaria 10-per-1 intorno al 15 agosto 2025.
I proventi serviranno a finanziare l'esplorazione mineraria nel nord della Finlandia e il capitale circolante. La società pagherà 88.186 dollari in commissioni di intermediazione e emetterà 2,19 milioni di warrant per gli intermediari.
FireFox Gold (OTCQB:FFOXF) ha completado la primera tanda de su colocación privada sin corredores, recaudando 3,79 millones de dólares mediante la emisión de 94,7 millones de unidades a 0,04 dólares por unidad. Cada unidad incluye una acción común y un warrant ejercitable a 0,06 dólares durante tres años.
La compañía planea completar una segunda tanda antes del 15 de agosto de 2025, con el objetivo de recaudar un total de 7 millones de dólares. Cabe destacar que los directivos de la empresa adquirieron 13,87 millones de unidades en la primera tanda. FireFox también implementará una consolidación de acciones 10 a 1 alrededor del 15 de agosto de 2025.
Los fondos se destinarán a la exploración mineral en el norte de Finlandia y al capital de trabajo. La compañía pagará 88.186 dólares en comisiones de intermediación y emitirá 2,19 millones de warrants para intermediarios.
FireFox Gold (OTCQB:FFOXF)는 중개인 없이 진행한 첫 번째 사모 발행을 완료하여, 단위당 0.04달러에 9,470만 단위를 발행해 379만 달러를 조달했습니다. 각 단위는 보통주 1주와 3년간 행사 가능한 행사가 0.06달러의 워런트를 포함합니다.
회사는 2025년 8월 15일까지 두 번째 트랜치를 완료할 계획이며, 총 700만 달러 조달을 목표로 하고 있습니다. 특히 회사 내부자들이 첫 번째 트랜치에서 1,387만 단위를 매입했습니다. FireFox는 또한 2025년 8월 15일경에 10대 1 주식 병합을 시행할 예정입니다.
조달된 자금은 핀란드 북부의 광물 탐사와 운전자본에 사용될 예정입니다. 회사는 중개 수수료로 88,186달러를 지급하고, 219만 개의 중개인 워런트를 발행할 것입니다.
FireFox Gold (OTCQB:FFOXF) a finalisé la première tranche de son placement privé sans intermédiaire, levant 3,79 millions de dollars en émettant 94,7 millions d’unités à 0,04 dollar par unité. Chaque unité comprend une action ordinaire et un bon de souscription exerçable à 0,06 dollar pendant trois ans.
La société prévoit de compléter une seconde tranche d’ici le 15 août 2025, visant un total de 7 millions de dollars. Notamment, les initiés de la société ont acquis 13,87 millions d’unités lors de la première tranche. FireFox procédera également à une regroupement d’actions au ratio de 10 pour 1 aux alentours du 15 août 2025.
Les fonds seront utilisés pour financer l’exploration minière dans le nord de la Finlande et le fonds de roulement. La société versera 88 186 dollars de frais de courtage et émettra 2,19 millions de bons de souscription pour courtiers.
FireFox Gold (OTCQB:FFOXF) hat die erste Tranche seiner nicht vermittelten Privatplatzierung abgeschlossen und dabei 3,79 Millionen US-Dollar durch die Ausgabe von 94,7 Millionen Einheiten zu je 0,04 US-Dollar pro Einheit eingenommen. Jede Einheit umfasst eine Stammaktie und einen Warrant, der für drei Jahre zu 0,06 US-Dollar ausgeübt werden kann.
Das Unternehmen plant, eine zweite Tranche bis zum 15. August 2025 abzuschließen und strebt eine Gesamtsumme von 7 Millionen US-Dollar an. Bemerkenswert ist, dass Insider des Unternehmens in der ersten Tranche 13,87 Millionen Einheiten erworben haben. FireFox wird zudem um den 15. August 2025 eine Aktienzusammenlegung im Verhältnis 10 zu 1 durchführen.
Die Erlöse werden für die Mineralexploration in Nordfinnland und als Betriebskapital verwendet. Das Unternehmen wird Findergebühren in Höhe von 88.186 US-Dollar zahlen und 2,19 Millionen Finder-Warrants ausgeben.
- Successfully raised $3.79 million in first tranche of private placement
- Strong insider participation with 13.87 million units purchased by directors and officers
- Additional funding expected in second tranche to reach $7 million total
- Warrants provide potential additional capital at 50% premium to unit price
- Significant dilution with 94.7 million new units issued
- Share consolidation indicates potential share price concerns
- Relatively low unit price of $0.04 suggests challenging market conditions
VANCOUVER, BC / ACCESS Newswire / August 5, 2025 / FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF)("FireFox" or the "Company") is pleased to announce that it has closed the first tranche (the "First Tranche") of its non-brokered private placement for units (the "Private Placement") announced on July 15th, 2025, and the upsizing announced on July 18th. The Company intends to complete the second and final tranche of the Private Placement on or about August 15th, 2025, completing what will be a fully subscribed offering of
Pursuant to the First Tranche, the Company has raised gross proceeds of
The Company intends to use the proceeds of the Private Placement for mineral exploration and related expenditures on FireFox's projects in northern Finland and general working capital.
Certain directors, officers and other insiders of the Company purchased or acquired direction and control over a total of 13,875,000 units under the first tranche of the private placement. The placement to those persons constitutes a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61 101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded
Additional directors, officers, and insiders are expected to participate in the second tranche of the placement as well.
In connection with the Private Placement, the Company intends to complete a 10-for-1 share consolidation (the "Share Consolidation") of its common shares on or about August 15, 2025. The Post-consolidation Shares are expected to commence trading on the TSXV on or around August 15, 2025. The Share Consolidation has been approved by the board of directors pursuant to a resolution passed on February 25, 2025, and is subject to TSXV approval.
FireFox will pay qualified finders
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 large 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.sedarplus.com.
On behalf of the Board of Directors,
"Carl Löfberg"
Chief Executive Officer
CONTACT:
FireFox Gold Corp.
Email: info@firefoxgold.com
Telephone: 778-938-1994
Cautionary Notes
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV accept responsibility for the adequacy or accuracy of the content of this release.
This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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, costs and supply of materials relevant to the mining industry, changes 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 2025. 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.
SOURCE: FireFox Gold Corp
View the original press release on ACCESS Newswire
FAQ
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