Business
FireFox Announces Shares for Debt Transaction
VANCOUVER, BC / ACCESS Newswire / December 31, 2025 / FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFO...
About this update from Firefox Gold Corp.
[{"type":"text","content":"FireFox Announces Shares for Debt TransactionVANCOUVER, BC / ACCESS Newswire / December 31, 2025 / FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) (\"FireFox\" or the \"Company\") is pleased to announce that it has entered into a debt settlement agreement (the \"Debt Settlement Agreement\") as of December 31, 2025, with one director of the Company (the \"Creditor\") to settle deferred consulting fees payable in the aggregate principal amount of C$142,000 (the \"Debt\") by way of (i) C$70,000 in cash as partial satisfaction of the Debt, and (ii) the issuance of 144,000 fully paid common shares in the capital of the Company (the \"Common Shares\") at a deemed price of C$0.50 per Common Share (collectively, the \"Shares for Debt Transaction\"). The Debt comprises the outstanding balance owed by the Company to the Creditor.The issuance of the Common Shares to the Creditor, an insider of the Company, is considered a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 in reliance on the exemptions set out in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 as the fair market value of the transaction is not more than 25% of the Company's market capitalization.The Common Shares will be issued on a private placement basis and will be subject to a four-month hold period. The closing of the Shares for Debt Transaction remains subject to the approval of the TSX Venture Exchange (\"TSXV\").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 on a large portfolio of ground prospective for high-grade gold deposits. The delineation of multiple gold zones at the Company's 100%-held Mustajärvi Project is paving the way for the discovery of Finland's next major gold deposit. 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, F...