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McFarlane Lake Announces Up To US$25 Million of Financing in Support of Its Proposed Acquisition of the Juby Gold Project
ARIS MINING TO BECOME A 19.9% SHAREHOLDER IN MCFARLANE LAKE PURSUANT TO THE US$22 MILLION ASSET S...
About this update from Mcfarlane Lake Mining Limited
[{"type":"text","content":"McFarlane Lake Announces Up To US$25 Million of Financing in Support of Its Proposed Acquisition of the Juby Gold ProjectARIS MINING TO BECOME A 19.9% SHAREHOLDER IN MCFARLANE LAKE PURSUANT TO THE US$22 MILLION ASSET SALETHIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO, ON / ACCESS Newswire / August 25, 2025 / McFarlane Lake Mining Limited (CSE:MLM)(OTCQB:MLMLF) (\"McFarlane Lake\" or the \"Company\"), a Canadian gold exploration and development company, is pleased to announce that it has entered into an agreement in principle for a bridge financing of up to US$15,000,000 (the \"Bridge Financing\") with a syndicate of lenders (the \"Lenders\") anchored by a lead institutional investor, and, in addition, intends to complete a concurrent non-brokered equity offering of up to US$10,000,000 (the \"Equity Offering\").Bridge FinancingThe proceeds raised pursuant to the Bridge Financing will be used to fund the cash portion of the Company's proposed acquisition of the Juby Properties and an interest in the Knight Properties from Aris Mining Holdings Corp. (\"AMHC\"), as outlined in the asset purchase agreement dated July 7, 2025 (the \"APA\") among the Company, Aris Mining Corporation and AMHC. The Bridge Financing will be a secured obligation of the Company and its subsidiary, will bear interest at a rate of 15% per annum, payable quarterly in arrears, and will have a one-year maturity from the date of issuance. The Company is in the process of finalizing the structure and features of the Bridge Financing, which is expected to feature a unit structure comprised of debt instruments and Warrants (as defined below). The Company will also have the ability to increase the size of the Bridge Financing to up to US$20 million, subject to the Lenders' approval. An update will be provided in due course by the Company.Under the terms of the Bridge Financing, the Lenders will be issued up to 48,000,000 common share purchase warrants of the Company (each a \"Warrant\"). Each Warrant will entitle the holder to acquire one common share of the Company at a price of C$0.15 per share for a period of three years following the date of issuance.Equity OfferingConcurrently with the Bridge Financing, the Company intends to offer for sale...