McFarlane Lake Receives Offer to Purchase Its High Lake and West Hawk Lake Gold Properties from Total Metals
McFarlane Lake Mining (OTCQB:MLMLF) has announced two significant transactions: the sale of its High Lake and West Hawk Lake gold properties to Total Metals Corp. for C$9.25 million, and an amended private placement offering to raise up to C$12.5 million.
The Total Metals deal includes C$7.25 million in cash and C$2 million in common shares, with an expected closing date of October 31, 2025. The amended equity offering consists of up to 66.6 million units at C$0.15 per unit and up to 16.6 million flow-through shares at C$0.15 per share. Each unit includes one common share and half a warrant exercisable at C$0.25 for three years.
The proceeds will primarily fund the company's proposed acquisition of the Juby Gold Project from Aris Mining Holdings Corp., representing a strategic shift in McFarlane's focus.
McFarlane Lake Mining (OTCQB:MLMLF) ha annunciato due operazioni significative: la vendita delle proprietà aurifere High Lake e West Hawk Lake a Total Metals Corp. per 9,25 milioni di CAD, e un'offerta di private placement modificata per raccogliere fino a 12,5 milioni di CAD.
L'accordo con Total Metals prevede 7,25 milioni di CAD in contanti e 2 milioni di CAD in azioni ordinarie, con una chiusura prevista per il 31 ottobre 2025. L'aumento dell'offerta di azioni consiste in fino a 66,6 milioni di unità a 0,15 CAD per unità e fino a 16,6 milioni di azioni flow-through a 0,15 CAD per azione. Ogni unità comprende una azione ordinaria e mezza warrant esercitabile a 0,25 CAD per tre anni.
I proventi serviranno principalmente a finanziare l'acquisizione proposta del Juby Gold Project da Aris Mining Holdings Corp., rappresentando un cambio strategico nel focus di McFarlane.
McFarlane Lake Mining (OTCQB:MLMLF) ha anunciado dos transacciones significativas: la venta de sus propiedades auríferas High Lake y West Hawk Lake a Total Metals Corp. por 9,25 millones de CAD, y una oferta ampliada de colocación privada para recaudar hasta 12,5 millones de CAD.
El acuerdo con Total Metals incluye 7,25 millones de CAD en efectivo y 2 millones de CAD en acciones comunes, con una fecha de cierre prevista para el 31 de octubre de 2025. La oferta de acciones modificada consiste en hasta 66,6 millones de unidades a 0,15 CAD por unidad y hasta 16,6 millones de acciones tipo flow-through a 0,15 CAD por acción. Cada unidad incluye una acción común y media warrants ejercitable a 0,25 CAD durante tres años.
Los ingresos se destinarán principalmente a financiar la adquisición propuesta del Juby Gold Project de Aris Mining Holdings Corp., lo que representa un cambio estratégico en el enfoque de McFarlane.
McFarlane Lake Mining (OTCQB:MLMLF)이 두 건의 중요한 거래를 발표했습니다: High Lake 및 West Hawk Lake의 금광 자산을 Total Metals Corp.에 CAD 9.25백만에 매각하고, 최대 CAD 12.5백만를 모으기 위한 수정된 비공개 배정을 발표했습니다.
Total Metals 거래에는 CAD 7.25백만 현금과 CAD 2백만 보통주가 포함되며, 마감 예정일은 2025년 10월 31일입니다. 수정된 주식 공모는 최대 66.6백만 유닛을 0.15 CAD/유닛으로, 그리고 최대 16.6백만 플로우스루 주식을 0.15 CAD/주당으로 제시합니다. 각 유닛은 보통주 1주와 행사가 3년인 반(半) 워런트를 포함합니다(행사 가격 0.25 CAD).
모금된 자금은 주로 Aris Mining Holdings Corp.로부터 Juby Gold Project를 인수하는 데 사용될 예정이며, 이는 McFarlane의 전략적 방향 전환을 나타냅니다.
McFarlane Lake Mining (OTCQB:MLMLF) a annoncé deux transactions importantes : la vente de ses propriétés aurifères High Lake et West Hawk Lake à Total Metals Corp. pour 9,25 millions de CAD, et une offre modifiée de placement privé visant à lever jusqu'à 12,5 millions de CAD.
L'accord Total Metals comprend 7,25 millions de CAD en espèces et 2 millions de CAD en actions ordinaires, avec une clôture prévue au 31 octobre 2025. L'offre d'actions modifiée se compose d'un maximum de 66,6 millions d'unités à 0,15 CAD par unité et d'un maximum de 16,6 millions d'actions « flow-through » à 0,15 CAD par action. Chaque unité comprend une action ordinaire et une « warrant » correspondant à la moitié d'un droit d'achat exercible à 0,25 CAD pendant trois ans.
Les fonds serviront principalement à financer l'acquisition proposée du Juby Gold Project de Aris Mining Holdings Corp., ce qui représente un recentrage stratégique pour McFarlane.
McFarlane Lake Mining (OTCQB:MLMLF) hat zwei bedeutende Transaktionen bekannt gegeben: den Verkauf seiner Goldminen High Lake und West Hawk Lake an Total Metals Corp. für 9,25 Mio. CAD und eine geänderte Privatplatzierung, um bis zu 12,5 Mio. CAD zu beschaffen.
Der Total Metals-Deal umfasst 7,25 Mio. CAD in Bargeld und 2 Mio. CAD in Stammaktien, mit voraussichtlichem Abschlussdatum am 31. Oktober 2025. Das geänderte Eigenkapitalangebot besteht aus bis zu 66,6 Mio. Einheiten zu 0,15 CAD pro Einheit und bis zu 16,6 Mio. Flow-Through-Aktien zu 0,15 CAD pro Aktie. Jede Einheit enthält eine Stammaktie und eine halbe Warrant, ausübbar zu 0,25 CAD für drei Jahre.
Die Erlöse dienen hauptsächlich der Finanzierung der geplanten Übernahme des Juby Gold Project von Aris Mining Holdings Corp., was eine strategische Neuausrichtung von McFarlane darstellt.
McFarlane Lake Mining (OTCQB:MLMLF) قد أعلنت عن صفقتين مهمتين: بيع ممتلكاتها الذهبية High Lake وWest Hawk Lake إلى Total Metals Corp. مقابل 9.25 مليون دولار كندي، وعرض خاص تعديل لجمع حتى 12.5 مليون دولار كندي.
يشمل صفقة Total Metals 7.25 مليون دولار كندي نقداً و 2 مليون دولار كندي أسهم عادية، مع تاريخ إغلاق متوقَّع في 31 أكتوبر 2025. أما العرض المعدل للأسهم فيتكوّن من حتى 66.6 مليون وحدة بسعر 0.15 دولار كندي للوحدة و حتى 16.6 مليون سهم تدفّقي (flow-through) بسعر 0.15 دولار كندي للسهم. كل وحدة تتضمن سهم عادي و نصف ضمان حق شراء قابلة للتفعيل بسعر 0.25 دولار كندي لمدة ثلاث سنوات.
سيتم تخصيص العائدات بشكل رئيسي لتمويل الاستحواذ المقترح على مشروع جuby للذهب من Aris Mining Holdings Corp.، مما يمثل تحولاً استراتيجياً في تركيز McFarlane.
McFarlane Lake Mining（OTCQB:MLMLF）宣布两笔重要交易：以 925 万加元将其 High Lake 与 West Hawk Lake 的金矿资产出售给 Total Metals Corp.，以及一项修订后的私人配售，以募集最多 1250 万加元。
Total Metals 交易包括 725 万加元现金和 200 万加元普通股，预计于 2025 年 10 月 31 日完成。修订后的股权发行包括最多 6,66,0,0,000 股单位，单位价格为 0.15 CAD/单位，以及最多 1,66,0,0,000 股流通型股票（flow-through），价格为 0.15 CAD/股。每单位包含 1 股普通股和半张可在三年内以 0.25 CAD 行使的认股权证。
募集资金将主要用于收购 Aris Mining Holdings Corp. 的 Juby 金矿项目，这标志着 McFarlane 战略重点的转变。
- Sale of non-core assets for C$9.25 million strengthens balance sheet
- Strategic focus on potentially more valuable Juby Gold Project
- Successful C$12.5 million private placement financing
- Immediate cash injection of C$7.25 million from property sale
- Transaction with Total Metals is conditional on financing and may not close
- Significant dilution from 83.3 million new shares being issued
- Loss of diversification with exit from High Lake and West Hawk Lake properties
MCFARLANE AMENDS C
TORONTO, ON / ACCESS Newswire / September 22, 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 the signing of a binding agreement (the "Agreement") with Total Metals Corp. ("Total Metals") for the sale of the Company's 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. The total consideration is valued at approximately C
Mark Trevisiol, CEO and Chairman of McFarlane Lake, commented: "The sale reflects our strategic focus on the proposed acquisition of the Juby Gold Project. High Lake and West Hawk Lake will no longer form part of our growth plans, as we intend to devote our efforts primarily to advancing exploration and development at the Juby Gold Project. We are pleased to see High Lake and West Hawk Lake move into the hands of a dedicated and experienced management team that is well positioned to advance its development."
Under the terms of the Agreement, McFarlane Lake will receive total consideration of approximately C
C
$7,250,000 in cash, payable on closing (the "Cash Consideration"); andC
$2,000,000 in common shares of Total Metals, representing the balance of the total consideration.The common shares will be issued to McFarlane Lake at the same price as Total Metals' equity financing used to fund the transaction.
Completion of the transaction is conditional on Total Metals raising the Cash Consideration from a concurrent financing and other customary closing conditions, including the negotiation and completion of a definitive acquisition agreement, the receipt of all required regulatory, stock exchange and third-party approvals and completion of due diligence satisfactory to Total Metals in its sole discretion. There can be no assurances the transaction will close on the terms described herein, or at all. Assuming satisfaction of the conditions precedent, the transaction is currently expected to close on or before October 31, 2025.
Amended Equity Offering
McFarlane Lake is pleased to announce that it has amended the terms of its previously announced equity private placement and now intends to offer, on a non-brokered basis: (i) up to 66,666,666 units of the Company (the "Units") at a price of C
Each Unit will consist 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 will be exercisable by the holder to acquire one Common Share at a price of C
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units will be offered for sale to purchasers resident in Canada, except Québec, or other qualifying jurisdictions pursuant to one or more of the following exemptions from the prospectus requirement under NI 45-106: (i) the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"), as modified by and in reliance on the exemptions set out in Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Order"); and (ii) other available exemptions under NI 45-106. The Company may also offer the Units for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in certain other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions. The FT Shares will be offered pursuant to available exemptions under NI 45-106, other than the Listed Issuer Financing Exemption.
A portion of the net proceeds from the Unit Offering will be applied to fund the remaining cash consideration payable in connection with the Company's proposed acquisition of the Juby Properties and an interest in the Knight Properties (the "Acquisition") from Aris Mining Holdings Corp. ("AMHC"), as outlined in the asset purchase agreement dated July 7, 2025 among the Company, Aris Mining Corporation and AMHC. The balance of the net proceeds is expected to be used for general working capital and other purposes as more particularly described in the Offering Document (as defined below).
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.
There is an offering document related to the Unit Offering (the "Offering Document") that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at https://mcfarlanelakemining.com/. Purchasers of Units issued under the Listed Issuer Financing Exemption will have the benefit of the Offering Document and the rights provided under the Listed Issuer Financing Exemption. Prospective investors should read the Offering Document before making an investment decision with respect to the Units.
The Company may, in its discretion and in compliance with applicable securities laws, compensate certain eligible finders for introducing purchasers to the Company. Any such finders' fees may consist of a cash payment of up to
The Unit Offering and the FT Offering may be completed in one or more tranches, with the initial tranche expected to close concurrently with the closing of the Acquisition on or about September 29, 2025, or on such other date as may be determined by the Company, subject to compliance with applicable securities laws (the "Closing Date"). Notwithstanding the foregoing, the closing of any Units issued pursuant to the Listed Issuer Financing Exemption must occur no later than the 45th day after the date of this news release.
The completion of the Unit Offering and FT Offering are subject to customary conditions, including, but not limited to, the receipt of all necessary approvals, inclusive of (if applicable) the approval of the Canadian Securities Exchange.
The securities described herein 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. McFarlane Lake has engaged ECM Capital Advisors Ltd. and Integrity Capital Group Inc. to support its efforts. For further information, contact Jeremy Rogers at jrogers@integritycapitalgrp.com or 647-998-4212.
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 statements relating to the timeline for the completion of the transaction, the ability of McFarlane Lake and Total Metals to satisfy or waive closing conditions under the Agreement, including receipt of required regulatory and third-party approvals, the ability of Total Metals to satisfy the financing condition under the Agreement, the proposed use of proceeds of the Unit Offering or FT Offering, approval of the CSE for the Unit Offering or FT Offering, the anticipated timing and completion of the Acquisition, and the anticipated timing and completion of the Unit Offering and FT Offering, whether in one or more tranches. 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) 665-5087
mtrevisiol@mcfarlanelakemining.com
SOURCE: McFarlane Lake Mining Limited
View the original press release on ACCESS Newswire
FAQ
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Why is McFarlane Lake (MLMLF) selling its High Lake and West Hawk Lake properties?
