Firefox Gold Corp. Announces Non-Brokered Private Placement and Completion of Shares for Services Transaction
VANCOUVER, June 19, 2024 - FireFox Gold Corp. (TSX.V:FFOX)(OTCQB:FFOXF)("FireFox" or the "Company") announces that it intends to raise up to $2,000,000 by way of a non-brokered private placement (the "Private Placement"). The Private Placement will consist of up to 40 million units of the Company ("Units") at a price of $0.05 per Unit. Each Unit will consist of one common share of the Company ("Common Share") and one full common share purchase warrant ("Warrant"), with each whole Warrant being exercisable to acquire one common share of the Company (a "Warrant Share") at an exercise price of $0.08 per Warrant Share for a term of three years following the closing of the Offering. The proceeds of the Private Placement will be used for mineral exploration and related expenditures on FireFox's Mustajärvi, Jeesiö, and Sarvi projects in northern Finland and general working capital. Prior to this financing, FireFox has 175.4 million shares, 57.1 million warrants and 15.7 million options outstanding.
The Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The Company anticipates that the Private Placement will close on or about July 12, 2024. The Company expects to pay finder's fees in association with this financing.
The Company also announces that it has completed the previously announced issuance of shares in exchange for advisory services ("Shares for Services"). FireFox entered into an agreement for services with Agentis Capital Mining Partners ("Agentis"), an arm's length party, pursuant to which the Company has now issued 490,851 common shares of the Company with a value of $0.08 per share in full satisfaction of an Agentis invoice in the amount of $39,268.08.
These securities will also be subject to a four month hold period, expiring September 28, 2024. The Shares for Services arrangement received final acceptance from the TSX Venture Exchange.
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 huge 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: +1-778-938-1994
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, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
SOURCE: FireFox Gold Corp.