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FireFox Gold Closes Second and Final Tranche of Non-Brokered Private Placement and Completes Share Consolidation
VANCOUVER, BC / ACCESS Newswire / August 20, 2025 / FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF...
About this update from Firefox Gold Corp.
[{"type":"text","content":"FireFox Gold Closes Second and Final Tranche of Non-Brokered Private Placement and Completes Share ConsolidationVANCOUVER, BC / ACCESS Newswire / August 20, 2025 / FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) (\"FireFox\" or the \"Company\") announces, effective August 15, 2025 that, subject to regulatory acceptance, it has completed the second and final tranche of the non-brokered private placement (the \"Private Placement\") and the 10:1 share consolidation announced on July 15, 2025.All numbers and prices in the paragraph below pertaining to the Private Placement are stated as pre-consolidation values.FireFox has raised gross proceeds of $7,000,000 by issuing 175,000,000 units of the Company at a purchase price of $0.04 per unit. Each unit consists of one common share of the Company and one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the Company at an exercise price of $0.06 per share for a term of three years from the date of issuance. 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. Pursuant to this offering and before the effects of the share consolidation, the Company has issued and outstanding shares totaling 383,272,249.The Company intends to use the proceeds of the Private Placement for mineral exploration and related expenditures on FireFox's Mustajärvi, Jeesiö, and Sarvi projects in northern Finland and general working capital.The Company now recognizes a new insider, Concept Capital Corp. Certain directors and officers of the Company purchased a total of 1,375,000 units. Other insiders, namely Agnico Eagle Mines Limited (\"Agnico\"), Crescat Portfolio Management LLC (\"Crescat\") and Concept Capital Corp. (\"Concept\") purchased a total of 62,772,500 units. Specifically, Agnico exercised their participation right and acquired 19,022,500 units.The placement to these insiders constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61- 101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") and TSXV Policy 5.9 -- Protection of Minority Security Holders in Special Transactions. In connection with this related party transaction...