Business
Fury Gold Mines Announces Upsized C$8.75 Million Financing
VANCOUVER, British Columbia, March 02, 2023 (GLOBE NEWSWIRE) -- Fury Gold Mines Limited (TSX: FURY, NYSE American: FURY) (“Fury” or the “Company”) is pleased to
About this update from Fury Gold Mines Limited
[{"type":"text","content":" VANCOUVER, British Columbia, March 02, 2023 (GLOBE NEWSWIRE) -- Fury Gold Mines Limited (TSX: FURY, NYSE American: FURY) (“Fury” or the “Company”) is pleased to announce that, in connection with its previously announced bought deal private placement financing (the “Offering”), it has entered into an amended agreement with Haywood Securities Inc., on behalf of itself and a syndicate of underwriters (collectively, the “Underwriters”) to increase the size of the Offering to 6,076,500 common shares of the Company that qualify as “flow-through shares” as defined under subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec) (the “FT Shares”) at a price of C$1.44 per FT Share (the “Issue Price”) to be sold on a charitable flow-through basis, representing total gross proceeds to the Company of C$8,750,160. In addition, the Company has agreed to grant to the Underwriters an over-allotment option (the “Over-Allotment Option”) exercisable, in whole or in part, at the sole discretion of the Underwriter, to purchase up to an additional C$1,249,840 worth of FT Shares (representing the balance available under the LIFE Exemption, as defined below) at the Issue Price for a period of up to 48 hours prior to closing of the Offering. The FT Shares will be offered to purchasers pursuant to the listed issuer financing exemption (“LIFE Exemption”) under Part 5A of NI 45-106 in all of the provinces of Canada, including Québec, and therefore will not be subject to resale restrictions pursuant to applicable Canadian securities laws. There is an amended offering document related to the Offering that can be accessed under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.furygoldmines.com. Prospective investors should read this offering document before making an investment decision. The gross proceeds of the Offering will be used by the Corporation to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada), and with respect to Québec resident subscribers will also qualify for inclusion in the “exploration base relating to certain Québec exploration expenses” and in the “exploration base relating to certain Québec surface mining expenses or oil and gas exploration expenses” within ...