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First Mining Closes Upsized $7 Million Flow-Through Equity Financing
First Mining Closes Upsized $7 Million Flow-Through Equity Financing Canada NewsWire ...
About this update from First Mining Gold Corp.
[{"type":"text","content":"\n \n \n \n First Mining Closes Upsized $7 Million Flow-Through 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 OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n June 17, 2024\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 and closed its previously announced non-brokered private placement offering of common shares of the Company (\"\n \n Common Shares\n \n \") for aggregate proceeds of approximately\n \n $7 million\n \n (the \"\n \n Offering\n \n \").\n \n \n \n \n \n \n \n \n \n Pursuant to the Offering, the Company issued (i) 31,212,121 Common Shares that qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"\n \n National FT Shares\n \n \") at a price of\n \n $0.165\n \n per National FT Share and (ii) 10,000,000 Common Shares that qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) and subsection 359.1 of the\n \n Taxation Act\n \n (Québec) (the \"\n \n Québec FT Shares\n \n \" and, together with the National FT Shares, the \"\n \n FT Shares\n \n \") at a price of\n \n $0.18\n \n per Québec FT Share.\n \n \n The gross proceeds raised from the Offering will be used by First Mining to fund exploration programs related to the Company's Springpole and\n \n Duparquet\n \n gold projects that qualify as \"Canadian exploration expenses\" and \"flow-through mining expenditures\", as those terms are defined in the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) for the National FT Shares and will also qualify for inclusion in the \"exploration base relating to certain Québec exploration expenses\" within the meaning of section 726.4.10 of the\n \n Taxat...