Business
Mcfarlane Lake Mining Acquires the Juby Gold Project
MCFARLANE ANNOUNCES THE CLOSING OF ITS US$22 MILLON ACQUISITION OF THE JUBY GOLD PROJECT AND CONC...
About this update from Mcfarlane Lake Mining Limited
[{"type":"text","content":"Mcfarlane Lake Mining Acquires the Juby Gold ProjectMCFARLANE ANNOUNCES THE CLOSING OF ITS US$22 MILLON ACQUISITION OF THE JUBY GOLD PROJECT AND CONCURRENT FINANCING TRANSACTIONSTHIS 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 / September 29, 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 closed the strategic acquisition of a 100% interest in the Juby Gold Project and 25% joint venture interest in the adjacent Knight property (together, the \"Acquisition\") from Aris Mining Holdings Corp. (\"AMHC\"), a wholly-owned subsidiary of Aris Mining Corporation (\"Aris Mining\"), along with the associated financing transactions.Terms of the Acquisition were first announced July 7, 2025, and the purchase price was paid through a combination of US$13,165,677 million cash and the issuance of 82,023,746 common shares of the Company (the \"Consideration Shares\") to Aris Mining.Mark Trevisiol, Chief Executive Officer and Chairman of McFarlane Lake said, \"Our team is very excited to have completed the acquisition of the Juby Gold Project from Aris Mining. The addition of this project to McFarlane Lake's portfolio is accretive to our business and to shareholder value. This acquisition transforms our company into one with a significant gold resource base at a time when gold prices are at historic highs. We look forward to advancing exploration and development activities at the Juby Gold Project and expect to announce an updated Mineral Resource Estimate (MRE) compliant to NI 43-101 standards within the coming days. We would like to thank Aris Mining and look forward to working with them as a 19.9% equity owner in McFarlane Lake. Concurrently, we look forward to engaging the local communities respecting the values and Treaty rights of the First Nations and aim to develop the project in a sustainable and transparent manner.\"Financing TransactionsUS$15 Million Debt FinancingIn connection with the Acquisition, McFarlane Lake is pleased to announce the closing of its previously announced debt and equity financing transactions.The debt financing was completed by way of...