McFarlane Lake Announces Up To US$25 Million of Financing in Support of Its Proposed Acquisition of the Juby Gold Project
McFarlane Lake Mining (OTCQB:MLMLF) has announced significant financing arrangements totaling up to US$25 million to support its acquisition of the Juby Gold Project. The financing package includes a US$15 million bridge financing with potential expansion to US$20 million, and a concurrent US$10 million equity offering.
The bridge financing, secured by company assets, carries a 15% annual interest rate and includes up to 48 million warrants at C$0.15 per share. The equity offering involves issuing up to 92.7 million common shares and flow-through shares at C$0.15 per share. Upon completion, Aris Mining Holdings will become a significant shareholder with a 19.9% stake in McFarlane Lake.
The transaction is expected to close around September 11, 2025, subject to regulatory approvals and customary closing conditions.
McFarlane Lake Mining (OTCQB:MLMLF) ha annunciato accordi di finanziamento fino a US$25 milioni per sostenere l'acquisizione del Juby Gold Project. Il pacchetto prevede un finanziamento ponte da US$15 milioni, con possibile ampliamento a US$20 milioni, e un contestuale aumento di capitale di US$10 milioni.
Il finanziamento ponte, garantito sugli asset della società, prevede un tasso d'interesse annuo del 15% e include fino a 48 milioni di warrant a C$0,15 per azione. L'aumento di capitale comprende l'emissione fino a 92,7 milioni di azioni ordinarie e di flow-through shares a C$0,15 per azione. Al completamento, Aris Mining Holdings diventerà un azionista rilevante con una partecipazione del 19,9% in McFarlane Lake.
La chiusura della transazione è prevista intorno all'11 settembre 2025, soggetta alle approvazioni regolamentari e alle consuete condizioni di chiusura.
McFarlane Lake Mining (OTCQB:MLMLF) ha anunciado acuerdos de financiamiento por hasta US$25 millones para apoyar la adquisición del Juby Gold Project. El paquete incluye un financiamiento puente de US$15 millones, con posible ampliación a US$20 millones, y una oferta de acciones concurrente de US$10 millones.
El financiamiento puente, garantizado con activos de la compañía, tiene un tipo de interés anual del 15% e incluye hasta 48 millones de warrants a C$0,15 por acción. La oferta de acciones contempla la emisión de hasta 92,7 millones de acciones ordinarias y de flow-through shares a C$0,15 por acción. Al completarse, Aris Mining Holdings se convertirá en un accionista significativo con una participación del 19,9% en McFarlane Lake.
Se espera que la transacción se cierre alrededor del 11 de septiembre de 2025, sujeta a aprobaciones regulatorias y a las habituales condiciones de cierre.
McFarlane Lake Mining (OTCQB:MLMLF)는 Juby Gold Project 인수를 지원하기 위해 최대 2,500만 달러(미화) 규모의 주요 자금 조달을 발표했습니다. 자금 조달 패키지에는 1,500만 달러의 브리지 대출(최대 2,000만 달러로 확장 가능)과 동시에 진행되는 1,000만 달러 규모의 주식공모가 포함됩니다.
회사의 자산으로 담보되는 브리지 대출은 연이율 15%를 적용하며, 주당 C$0.15 조건의 최대 4,800만 워런트를 포함합니다. 주식공모는 주당 C$0.15로 최대 9,270만 보통주 및 플로우스루 주식을 발행하는 내용입니다. 거래 완료 시 Aris Mining Holdings는 McFarlane Lake의 19.9% 지분을 보유한 주요 주주가 됩니다.
거래 종결은 규제 승인 및 통상적인 종결 조건을 전제로 2025년 9월 11일경으로 예상됩니다.
McFarlane Lake Mining (OTCQB:MLMLF) a annoncé des arrangements de financement d'un montant total pouvant atteindre 25 millions de dollars US pour soutenir l'acquisition du Juby Gold Project. Le paquet de financement comprend un financement relais de 15 millions USD, éventuellement extensible à 20 millions USD, et une offre d'actions concurrente de 10 millions USD.
Le financement relais, garanti par les actifs de la société, porte un taux d'intérêt annuel de 15% et inclut jusqu'à 48 millions de bons de souscription à C$0,15 par action. L'offre d'actions prévoit l'émission d'un maximum de 92,7 millions d'actions ordinaires et de flow-through shares à C$0,15 par action. À l'issue de l'opération, Aris Mining Holdings deviendra un actionnaire important avec une participation de 19,9% dans McFarlane Lake.
La clôture de la transaction est prévue aux alentours du 11 septembre 2025, sous réserve des approbations réglementaires et des conditions habituelles de clôture.
McFarlane Lake Mining (OTCQB:MLMLF) hat Finanzierungsvereinbarungen in Höhe von insgesamt bis zu US$25 Millionen bekanntgegeben, um die Übernahme des Juby Gold Project zu unterstützen. Das Paket umfasst eine Brückenfinanzierung über US$15 Millionen, mit der Möglichkeit einer Erweiterung auf US$20 Millionen, sowie ein gleichzeitiges Eigenkapitalangebot über US$10 Millionen.
Die durch Unternehmensvermögen besicherte Brückenfinanzierung weist einen jährlichen Zinssatz von 15% auf und beinhaltet bis zu 48 Millionen Warrants zu C$0,15 je Aktie. Das Eigenkapitalangebot sieht die Ausgabe von bis zu 92,7 Millionen Stammaktien und Flow-Through-Aktien zu C$0,15 je Aktie vor. Nach Abschluss wird Aris Mining Holdings mit einem Anteil von 19,9% ein bedeutender Aktionär von McFarlane Lake sein.
Der Abschluss der Transaktion wird voraussichtlich um den 11. September 2025 erfolgen, vorbehaltlich behördlicher Genehmigungen und üblicher Abschlussbedingungen.
- None.
- High interest rate of 15% on bridge financing indicates significant cost of capital
- Substantial dilution through issuance of up to 92.7 million new shares
- Additional dilution potential from 48 million warrants
- Heavy dependence on successful completion of multiple financing components
ARIS MINING TO BECOME A
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, ON / ACCESS Newswire / August 25, 2025 / McFarlane Lake Mining Limited (CSE:MLM)(OTCQB:MLMLF) ("McFarlane Lake" or the "Company"), a Canadian gold exploration and development company, is pleased to announce that it has entered into an agreement in principle for a bridge financing of up to US
Bridge Financing
The proceeds raised pursuant to the Bridge Financing will be used to fund the cash portion of the Company's proposed acquisition of the Juby Properties and an interest in the Knight Properties from Aris Mining Holdings Corp. ("AMHC"), as outlined in the asset purchase agreement dated July 7, 2025 (the "APA") among the Company, Aris Mining Corporation and AMHC. The Bridge Financing will be a secured obligation of the Company and its subsidiary, will bear interest at a rate of
Under the terms of the Bridge Financing, the Lenders will be issued up to 48,000,000 common share purchase warrants of the Company (each a "Warrant"). Each Warrant will entitle the holder to acquire one common share of the Company at a price of C
Equity Offering
Concurrently with the Bridge Financing, the Company intends to offer for sale, on a non-brokered private placement basis: (i) up to 92,666,666 common shares of the Company (each, a "Common Share") at a price of C
The Company will use the net proceeds from the Equity Offering primarily to satisfy the cash consideration payable to AMHC in connection with the transactions described in the APA, and for general working capital purposes. The gross proceeds received by the Company from the sale of the FT Shares will be used to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Tax Act (the "Qualifying Expenditures"). All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2025. In connection with the Equity Offering, the Company may pay finders' fees in cash equal to
Consideration Shares Payable to AMHC
As partial consideration for the acquisition of the Juby Properties and an interest in the Knight Properties, together with related assets, the Company will issue common shares to AMHC at a deemed price of C
Mark Trevisiol, Chairman and CEO of McFarlane Lake stated: "Execution of this transaction allows McFarlane to take hold of what I believe is one of Ontario's premier undeveloped gold deposits. It represents the first step in the process of unlocking value at the Juby Gold property, in a gold market where almost all producers are experiencing unprecedented cash flows. Our team is excited and determined to advance this property to production."
The Bridge Financing, Equity Offering and Consideration Shares are each subject to receipt of all applicable regulatory approvals, including the approval of the Canadian Securities Exchange (the "CSE"). All securities issued in connection with the Bridge Financing, the Equity Offering and the Consideration Shares, including the Warrants, will be subject to applicable statutory holding periods and re-sale restrictions imposed under applicable securities legislation. If required in connection with the Equity Offering, offering of the Warrants and transactions contemplated under the APA (including the issuance of the Consideration Shares), the Company will obtain the written approval of holders of at least
The transactions contemplated under the APA remain subject to customary closing conditions, including a financing condition, which the Company expects to satisfy through completion of the Bridge Financing and the Equity Offering. For further information regarding the acquisition of the Juby Properties and the Company's interest in the Knight Properties, together with related assets, please refer to copies of the Company's press release dated July 7, 2025 and the APA, each of which is available under the Company's issuer profile on SEDAR+.
The Bridge Financing, including the issuance of the Warrants, together with the Equity Offering, is expected to be completed on or about September 11, 2025, with the acquisition of the Juby Properties and the interest in the Knight Properties, together with related assets expected to occur as soon as possible thereafter.
The securities issued in connection with the Bridge Financing, the Equity Offering and the APA (the Consideration Shares) have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About McFarlane Lake Mining
McFarlane Lake is a gold exploration company focused on acquiring the Juby Gold project near Gowganda, Ontario. The exploration and development of the past producing McMillan Mine property and Mongowin gold property located 70 km west of Sudbury, Ontario. The exploration of the High Lake mineral property located immediately east of the Ontario-Manitoba border and the West Hawk Lake mineral property located immediately west of the Ontario-Manitoba border. In addition, McFarlane Lake owns the Michaud/Munro mineral properties 115 km east of Timmins. McFarlane Lake is a "reporting issuer" under applicable securities legislation in the provinces of Ontario, British Columbia and Alberta.
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.
Advisors
Wildeboer Dellelce LLP is acting as legal counsel for McFarlane Lake. Cassels Brock & Blackwell LLP is acting as legal counsel for the Lenders. Fasken Martineau DuMoulin LLP is acting as legal counsel for AMHC.
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 applicable Canadian securities legislation, including, without limitation, statements with respect to: the terms of the Bridge Financing, the Equity Offering and the issuance of the Consideration Shares; the anticipated timing and completion of the Bridge Financing, the Equity Offering and the acquisition of the Juby and Knight Properties; the intended use of proceeds from the Bridge Financing and the Equity Offering; the negotiation and execution of definitive documentation; the receipt of required regulatory and stock exchange approvals; and the expected ownership interest of AMHC upon completion of the transactions; and statements made by management regarding the potential of the Juby and/or Knight Properties, expectations for the gold market, and the Company's ability to advance the Juby and/or Knight Properties into production. 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", "is expected", "anticipates" or "does not anticipate", "plans", "believes" or "intends", or variations of such words and phrases, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, 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 "Risk 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) 665-5087
mtrevisiol@mcfarlanelakemining.com
SOURCE: McFarlane Lake Mining Limited
View the original press release on ACCESS Newswire
FAQ
What is the total value of McFarlane Lake's (MLMLF) financing package announced in August 2025?
What are the terms of MLMLF's bridge financing for the Juby Gold Project acquisition?
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What is the structure of McFarlane Lake's equity offering announced in August 2025?
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