Business
First Mining Establishes At-The-Market Facility
VANCOUVER, BC / ACCESSWIRE / August 20, 2019 / First Mining Gold Corp. (“First Mi...
About this update from First Mining Gold Corp.
[{"type":"text","content":"First Mining Establishes At-The-Market FacilityVANCOUVER, BC / ACCESSWIRE / August 20, 2019 / First Mining Gold Corp. (“First Mining” or the “Company”) (OTCQX:FFMGF) (TSX:FF) (FRANKFURT:FMG) is pleased to announce the establishment of an at-the-market equity program (the “ATM Program”) pursuant to which First Mining, at its discretion and from time to time, may issue up to $15 million of common shares (“Common Shares”) to the public at the prevailing market price of the Common Shares when issued through the Toronto Stock Exchange (the “TSX”). The volume and timing of distributions under the ATM Program, if any, will be determined at First Mining’s sole discretion, subject to applicable regulatory limitations under Canadian securities laws. Sales of Common Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated August 19, 2019 (the “Equity Distribution Agreement”) between First Mining and Cantor Fitzgerald Canada Corporation (“Cantor”). The net proceeds from the ATM Program, if any, will be used by the Company for development and permitting activities at its Canadian gold projects, as well as for general working capital purposes. The ATM Program will be effective until the earlier of July 26, 2021 or completion of the sale of the maximum number of shares thereunder unless terminated prior to such date in accordance with the Equity Distribution Agreement.Sales of Common Shares, if any, under the ATM Program are anticipated to be made in transactions that are deemed to be “at-the-market distributions” as defined in National Instrument 44-102 Shelf Distributions, including sales made directly on the TSX or on any other existing trading market for the Common Shares in Canada. The Common Shares will be distributed at the prevailing market prices at the time of the sale and, as a result, prices may vary among purchasers and during the period of distribution. The Company has applied for conditional approval from the TSX for the listing of the Common Shares to be offered under the ATM Program.The ATM Program is being established pursuant to a prospectus supplement dated August 19, 2019 (the “Prospectus Supplement”) to the Company's Canadian short form base...