FireFox Gold Closes Second and Final Tranche of Non-Brokered Private Placement
Rhea-AI Summary
FireFox Gold (OTCQB:FFOXF) closed the second and final tranche of its non-brokered private placement on June 22, 2026, raising gross proceeds of $6,725,400. The company issued 11,208,999 units at $0.60, each with one share and half-warrant exercisable at $0.90 for three years.
Shares now total 49,957,066 outstanding. Proceeds are earmarked for exploration at Mustajärvi, Jeesiö, Sarvi in Finland and working capital. Insiders bought 2,910,000 units, while Agnico Eagle Mines acquired 1,825,000 units. FireFox will pay $319,179 in finder fees and issue 265,982 finder warrants.
Positive
- Gross proceeds of $6,725,400 raised via private placement
- Issued 11,208,999 units at $0.60 with three-year $0.90 warrants
- Common shares outstanding increase to 49,957,066
- Proceeds allocated to Finnish exploration projects and working capital
- Insiders subscribed for 2,910,000 units
- Agnico Eagle Mines acquired 1,825,000 units under participation right
Negative
- Equity financing increases share count to 49,957,066, diluting existing holders
- Finder fees of $319,179 reduce net proceeds to the company
- Issuance of 265,982 finder warrants at $0.90 adds potential future dilution
News Market Reaction – FFOXF
On the day this news was published, FFOXF gained 3.33%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / June 25, 2026 / FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) ("FireFox" or the "Company") announces, effective June 22, 2026, that subject to regulatory acceptance, it has completed the second and final tranche of the non-brokered private placement (the "Private Placement") announced on May 15, 2026.
The Company 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.
Certain directors and officers of the Company purchased a total of 2,910,000 units. In addition, Agnico Eagle Mines Limited ("Agnico"), exercised their participation right and acquired 1,825,000 units.
The Private 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 these related party transactions, 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.
FireFox will pay fees and issue warrants to qualified finders totaling
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.
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.ca.
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 2026. 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