Business
Maple Gold Announces $5 Million Non-Brokered Private Placement Led by Strategic Investor Michael Gentile and Provides Corporate Update
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About this update from Maple Gold Mines Ltd
[{"type":"text","content":"Maple Gold Announces $5 Million Non-Brokered Private Placement Led by Strategic Investor Michael Gentile and Provides Corporate UpdateNot for distribution to United States news wire services or for dissemination in the United StatesVancouver, British Columbia--(Newsfile Corp. - August 20, 2025) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (\"Maple Gold\" or the \"Company\") is pleased to announce its intention to raise aggregate gross proceeds of approximately C$5 million pursuant to a non-brokered private placement (the \"Offering\") with a lead order from strategic investor Michael Gentile. In addition, pursuant to an investor rights agreement between the Company and Agnico Eagle Mines Limited (\"Agnico Eagle\"), Agnico Eagle has indicated that it intends to participate in the Offering to maintain its pro rata ownership interest in the Company.Maple Gold is also pleased to announce the appointments of Marc Legault and Chris Adams to the Board of Directors effective August 31, 2025. Mr. Legault brings over 40 years of gold and base metals industry experience including 34 years in exploration, operations, and senior management at Agnico Eagle until retiring in 2022. Mr. Adams brings over 30 years of mining finance experience and previously served as the head of Macquarie Group Limited's mining finance business in the Americas. Michelle Roth will retire as Chairperson and Director and Maurice Tagami will step down as Director effective August 31, 2025. The Company thanks them for their service and wishes them well in the future.In addition, Maple Gold announces its intention to complete the consolidation of the common shares of the Company (each, a \"Share\") on a ten (10) to one (1) basis (the \"Consolidation\") with an expected effective date of September 8, 2025. Strategic FinancingThe Company contemplates that the Offering will result in the following:Prominent Québec-based junior mining investor Michael Gentile will become a 9.9% shareholder on a partially-diluted basis and will join the Company as a Strategic Advisor;Agnico Eagle has indicated that it intends to participate in the Offering to maintain its pro rata ownership interest in the Company at 16.3% on a partially-diluted basis;The Offering will strengthen Maple Gold's balance sheet with a C$5 million financing consisting of C$3.5 million of cha...