FireFox Gold Closes Second and Final Tranche of Non-Brokered Private Placement and Completes Share Consolidation
FireFox Gold (OTCQB:FFOXF) has successfully completed two significant corporate actions: a $7 million private placement and a 10:1 share consolidation. The private placement involved issuing 175 million pre-consolidation units at $0.04 each, with each unit comprising one common share and one warrant exercisable at $0.06 for three years.
Notable participants included new insider Concept Capital Corp, along with existing insiders Agnico Eagle Mines and Crescat Portfolio Management. Following the share consolidation, FireFox's outstanding shares were reduced to 38,327,225, with trading commencing on the TSXV at $0.55 per share. The proceeds will fund exploration activities at the company's Finnish projects: Mustajärvi, Jeesiö, and Sarvi.
FireFox Gold (OTCQB:FFOXF) ha completato con successo due operazioni societarie rilevanti: una collocazione privata da 7 milioni di dollari e una consolidazione azionaria 10:1. La collocazione privata ha previsto l’emissione di 175 milioni di unità pre-consolidamento a 0,04$ ciascuna; ogni unità comprendeva una azione ordinaria e una warrant esercitabile a 0,06$ per tre anni.
Tra i partecipanti di rilievo figurano il nuovo insider Concept Capital Corp e gli insider già presenti Agnico Eagle Mines e Crescat Portfolio Management. Dopo la consolidazione, le azioni in circolazione di FireFox sono diventate 38.327.225, con apertura delle negoziazioni sulla TSXV a 0,55$ per azione. I proventi finanzieranno le attività di esplorazione nei progetti finlandesi della società: Mustajärvi, Jeesiö e Sarvi.
FireFox Gold (OTCQB:FFOXF) ha completado con éxito dos acciones corporativas importantes: una colocación privada de 7 millones de dólares y una consolidación de acciones 10:1. La colocación privada consistió en la emisión de 175 millones de unidades preconsolidación a 0,04$ cada una; cada unidad incluía una acción ordinaria y una opción (warrant) ejercitable a 0,06$ durante tres años.
Participaron de forma destacada el nuevo insider Concept Capital Corp, así como los insiders existentes Agnico Eagle Mines y Crescat Portfolio Management. Tras la consolidación, las acciones en circulación de FireFox se redujeron a 38.327.225, iniciando la cotización en la TSXV a 0,55$ por acción. Los fondos se destinarán a financiar actividades de exploración en los proyectos finlandeses de la compañía: Mustajärvi, Jeesiö y Sarvi.
FireFox Gold (OTCQB:FFOXF)가 두 건의 주요 기업 조치를 성공적으로 마무리했습니다: 700만 달러 규모의 사모 발행과 10대1 주식 병합입니다. 사모 발행은 병합 전 기준 1주당 0.04달러로 1억7500만 단위를 발행했으며, 각 단위는 보통주 1주와 3년 만기, 행사가 0.06달러인 워런트 1개로 구성되었습니다.
주요 참여자는 신규 내부자 Concept Capital Corp와 기존 내부자 Agnico Eagle Mines, Crescat Portfolio Management입니다. 주식 병합 후 FireFox의 유통 주식 수는 38,327,225주로 줄었으며 TSXV에서 주당 0.55달러로 거래를 시작했습니다. 수익금은 회사의 핀란드 프로젝트인 Mustajärvi, Jeesiö, Sarvi의 탐사 활동 자금으로 사용될 예정입니다.
FireFox Gold (OTCQB:FFOXF) a mené à bien deux opérations corporatives importantes : un placement privé de 7 millions de dollars et une consolidation d’actions 10:1. Le placement privé a consisté en l’émission de 175 millions d’unités avant consolidation à 0,04$ chacune ; chaque unité comprenait une action ordinaire et un warrant exerçable à 0,06$ pendant trois ans.
Parmi les participants notables figurent le nouvel initié Concept Capital Corp, ainsi que les initiés existants Agnico Eagle Mines et Crescat Portfolio Management. Après la consolidation, le nombre d’actions en circulation de FireFox est passé à 38 327 225, avec un début de cotation sur la TSXV à 0,55$ par action. Les produits financeront les activités d’exploration des projets finlandais de la société : Mustajärvi, Jeesiö et Sarvi.
FireFox Gold (OTCQB:FFOXF) hat erfolgreich zwei bedeutende Unternehmensmaßnahmen abgeschlossen: eine 7-Millionen-Dollar-Privatplatzierung und eine 10:1-Aktienkonsolidierung. Die Privatplatzierung umfasste die Ausgabe von 175 Millionen Vor-Konsolidierungs-Einheiten zu je 0,04$; jede Einheit bestand aus einer Stammaktie und einem Warrant, der über drei Jahre zu 0,06$ ausgeübt werden kann.
Bedeutende Teilnehmer waren der neue Insider Concept Capital Corp sowie die bisherigen Insider Agnico Eagle Mines und Crescat Portfolio Management. Nach der Konsolidierung reduzierte sich die Anzahl der ausstehenden Aktien von FireFox auf 38.327.225, der Handel begann an der TSXV zu 0,55$ pro Aktie. Die Erlöse werden die Explorationsaktivitäten an den finnischen Projekten Mustajärvi, Jeesiö und Sarvi finanzieren.
- Raised significant capital of $7 million through private placement
- Strong insider participation with Agnico Eagle, Crescat, and new insider Concept Capital
- 78% of offering subscribed by new investors, indicating fresh interest
- Proceeds allocated to advance exploration projects in Finland
- Significant share dilution from 175 million new units issued
- Additional dilution from 4,987,500 shares and 7,383,650 warrants issued as finder's fees
- Share consolidation may indicate previous price weakness
VANCOUVER, BC / ACCESS Newswire / August 20, 2025 / FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) ("FireFox" or the "Company") announces, effective August 15, 2025 that, subject to regulatory acceptance, it has completed the second and final tranche of the non-brokered private placement (the "Private Placement") and the 10:1 share consolidation announced on July 15, 2025.
All numbers and prices in the paragraph below pertaining to the Private Placement are stated as pre-consolidation values.
FireFox 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 Mustajärvi, Jeesiö, and Sarvi projects in northern Finland and general working capital.
The Company now recognizes a new insider, Concept Capital Corp. Certain directors and officers of the Company purchased a total of 1,375,000 units. Other insiders, namely Agnico Eagle Mines Limited ("Agnico"), Crescat Portfolio Management LLC ("Crescat") and Concept Capital Corp. ("Concept") purchased a total of 62,772,500 units. Specifically, Agnico exercised their participation right and acquired 19,022,500 units.
The placement to these insiders constitutes a "related party transaction" within the meaning of Multilateral Instrument 61- 101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and TSXV Policy 5.9 -- Protection of Minority Security Holders in Special Transactions. In connection with this related party transaction, the Company is relying on the formal valuation and minority shareholder approval exemptions of 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the portion of the Private Placement subscribed for by these insiders does not exceed 25 percent of the Company's market capitalization.
The Company also notes that new investors subscribed for
Immediately following the close of the Private Placement, the Company completed a 10-for-1 consolidation of its common shares (the "Share Consolidation"). The Share Consolidation was approved by the Company's board of directors pursuant to a resolution passed on February 25, 2025 and received TSXV approval. The Company's new issued and outstanding share total now stands at 38,327,225. FireFox's newly consolidated shares commenced trading on the TSX Venture Exchange (TSXV) on August 15, 2025 at
FireFox will pay fees and issue warrants to qualified finders totaling
About FireFox Gold Corp.
FireFox Gold Corp is listed on the TSXV 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: 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 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.
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 the original press release on ACCESS Newswire
FAQ
What is the size and price of FireFox Gold's (FFOXF) private placement in 2025?
How did FireFox Gold's (FFOXF) share consolidation affect its outstanding shares?
Who were the major investors in FireFox Gold's (FFOXF) 2025 private placement?
How will FireFox Gold (FFOXF) use the proceeds from the 2025 private placement?
What are the terms of the warrants issued in FireFox Gold's (FFOXF) private placement?
