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McFarlane Lake Receives Offer to Purchase Its High Lake and West Hawk Lake Gold Properties from Total Metals
MCFARLANE AMENDS C$12.5 MILLION PRIVATE PLACEMENT IN CONNECTION WITH ITS ACQUISITION OF THE JUBY ...
About this update from Mcfarlane Lake Mining Limited
[{"type":"text","content":"McFarlane Lake Receives Offer to Purchase Its High Lake and West Hawk Lake Gold Properties from Total MetalsMCFARLANE AMENDS C$12.5 MILLION PRIVATE PLACEMENT IN CONNECTION WITH ITS ACQUISITION OF THE JUBY GOLD PROJECT TORONTO, ON / ACCESS Newswire / September 22, 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 the signing of a binding agreement (the \"Agreement\") with Total Metals Corp. (\"Total Metals\") for the sale of the Company's High Lake mineral property located immediately east of the Ontario-Manitoba border and the West Hawk Lake mineral property located immediately west of the Ontario-Manitoba border. The total consideration is valued at approximately C$9.25 million, payable as outlined below.Mark Trevisiol, CEO and Chairman of McFarlane Lake, commented: \"The sale reflects our strategic focus on the proposed acquisition of the Juby Gold Project. High Lake and West Hawk Lake will no longer form part of our growth plans, as we intend to devote our efforts primarily to advancing exploration and development at the Juby Gold Project. We are pleased to see High Lake and West Hawk Lake move into the hands of a dedicated and experienced management team that is well positioned to advance its development.\"Under the terms of the Agreement, McFarlane Lake will receive total consideration of approximately C$9.25 million, comprised of:C$7,250,000 in cash, payable on closing (the \"Cash Consideration\"); andC$2,000,000 in common shares of Total Metals, representing the balance of the total consideration.The common shares will be issued to McFarlane Lake at the same price as Total Metals' equity financing used to fund the transaction.Completion of the transaction is conditional on Total Metals raising the Cash Consideration from a concurrent financing and other customary closing conditions, including the negotiation and completion of a definitive acquisition agreement, the receipt of all required regulatory, stock exchange and third-party approvals and completion of due diligence satisfactory to Total Metals in its sole discretion. There can be no assurances the transaction will close on the terms described herein, or at all. Assuming satisfaction of the conditions precedent, the transaction is currently e...