ACCESS Newswire
21 Sep 2022, 15:02 GMT+10
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
VANCOUVER, BC / ACCESSWIRE / September 21, 2022 / FireFox Gold Corp. (TSX.V:FFOX)(OTCQB:FFOXF) (''FireFox' or the 'Company') announces that it intends to raise up to $1,000,000 by way of a non-brokered private placement (the 'Private Placement'). The Private Placement will consist of up to 10,000,000 units of the Company ('Units') at a price of $0.10 per Unit. Each Unit will consist of one common share of the Company ('Common Share') and one-half 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 $0.18 per Warrant Share for a term of two years following the closing of the Offering.
It is anticipated that the proceeds of the Private Placement will be used for general working capital, drilling on FireFox's Mustajärvi project, and other exploration activities on the Company's other gold exploration properties in Finland. Prior to this financing, FireFox has 119.5 million shares outstanding, 18.2 million warrants outstanding, and 7.6 million stock options issued.
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 September 30, 2022. The Company expects to pay finder's fees in association with this financing.
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.sedar.com.
On behalf of the Board of Directors,
'Carl Löfberg'
Chief Executive Officer
CONTACT:
FireFox Gold Corp.
Email: [email protected]
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, 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.
SOURCE: FireFox Gold Corp
Get a daily dose of Vancouver Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Vancouver Star.
More InformationWASHINGTON, D.C.: According to a report in the Wall Street Journal, former President Donald Trump is planning to sign an order to shut...
Already under siege, the heavily-blockaded Gaza Strip, housing more than two million displaced people, as well as the remaining Israeli...
WASHINGTON, D.C.: U.S. Secretary of State Marco Rubio has announced new visa restrictions. The policy will apply to foreign government...
LOS ANGELES, California: Former Los Angeles Fire Chief Kristin Crowley lost her bid to get her job back after being fired by Mayor...
Last Sunday, the Israeli-Palestinian co-production No Other Land was awarded an Academy Award for best documentary. The Oscar – a first...
WASHINGTON, D.C.: The Supreme Court is to hear arguments in a case that could determine the future of nuclear waste storage in the...
LONDON, U.K.: British Petroleum CEO Murray Auchincloss saw his pay package drop to 5.4 million pounds (US$6.95 million) in 2024, down...
BONN, Germany: DHL plans to cut 8,000 jobs in Germany this year, marking its most significant domestic workforce reduction in at least...
BEIJING, China: China has set an economic growth target of around five percent for 2025, signaling efforts to stabilize the economy...
WASHINGTON, D.C.: Elon Musk's company SpaceX said this week that its Starlink satellite unit is not trying to take over any Federal...
SACRAMENTO, California: Starting July 1, California state employees will be required to work in person at least four days a week under...
FRANKFURT, Germany: Germany is set to loosen its strict debt limits in a historic shift that could unlock over 1 trillion euros ($1.08...