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First Mining Closes First Tranche of Upsized Equity Financing
First Mining Closes First Tranche of Upsized Equity Financing Canada NewsWire /...
About this update from First Mining Gold Corp.
[{"type":"text","content":"\n \n \n \n First Mining Closes First Tranche of Upsized Equity Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES\n \n OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 21, 2023\n \n \n /CNW/ -\n \n First Mining Gold Corp. (\"First Mining\" or the \"Company\")\n \n (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce that due to demand, the Company has upsized its\n \n $5 million\n \n non-brokered private placement financing, previously announced on\n \n October 26, 2023\n \n , to approximately\n \n $10 million\n \n (the \"\n \n Offering\n \n \"). The Company has closed the first tranche of the Offering and issued 63,993,000 units of the Company (the \"\n \n Units\n \n \") at a price of\n \n $0.125\n \n per Unit for aggregate gross proceeds of approximately\n \n $8 million\n \n (the \"\n \n First Tranche\n \n \"). First Mining expects to close the remainder of the Offering on or about\n \n December 7, 2023\n \n .\n \n \n \n \n \n \n \n \n \n Each Unit consists of one common share of the Company (each, a \"\n \n Common Share\n \n \") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a \"\n \n Warrant\n \n \"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of\n \n $0.20\n \n per Common Share at any time prior to the date which is 36 months following the closing date of the First Tranche.\n \n \n The Company intends to use the net proceeds from the Offering to advance its Springpole and\n \n Duparquet\n \n gold projects, as well as for general working capital and corporate purposes.\n \n \n All of the securities issued under the First Tranche are subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws. The Offering remains subject to the receipt of all necessary regulatory approvals, including the fin...