Business
First Mining Closes $2.0 Million Flow-Through Equity Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION...
About this update from First Mining Gold Corp.
[{"type":"text","content":"First Mining Closes $2.0 Million Flow-Through Equity FinancingNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESSWIRE / December 18, 2019 / First Mining Gold Corp. (\"First Mining\" or the \"Company\") (TSX:FF) (OTCQX:FFMGF) (FRANKFURT:FMG) is pleased to announce that it has closed its previously announced non-brokered flow-through equity financing, raising aggregate gross proceeds of approximately $2.0 million (the \"Offering\").Pursuant to the Offering, First Mining issued 7,405,000 common shares of the Company (the \"Flow-Through Shares\") that qualify as flow-through shares for purposes of the Income Tax Act (Canada), at a price of $0.27 per Flow-Through Share.The gross proceeds raised from the sale of the Offering will be used by First Mining to fund exploration programs that qualify as \"Canadian Exploration Expenses\" (\"CEE\") and \"flow-through mining expenditures,\" as those terms are defined in the Income Tax Act (Canada).In connection with the Offering, the Company paid a 5% finder's fee on the aggregate gross proceeds of the Offering. This fee was paid by the Company in common shares at a price of $0.27 per share, resulting in the issuance of an additional 370,250 common shares of the Company (the \"Finder's Fee Shares\").The Flow-Through Shares and the Finder's Fee Shares issued under the Offering are subject to a statutory hold period of four months and one day from closing, expiring on April 19, 2020.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.About First Mining Gold Corp.First Mining Gold Corp. is an emerging development company with a diversified portfolio of gold projects in North America. Having assembled a large resource base of 7.4 million ounces of gold in the Measured and Indicated categories and 3.8 million...