First Mining Announces Public Offering and Non-Brokered Private Placement for up to $20 Million
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Base Shelf Prospectus Accessible and Prospectus Supplement to be Accessible on SEDAR+
VANCOUVER, British Columbia, July 14, 2025 (GLOBE NEWSWIRE) -- First Mining Gold Corp. ("First Mining" or the "Company") (TSX:FF) (OTCQX:FFMGF) (FRANKFURT: FMG) is pleased to announce that it has entered into an agreement with Haywood Securities Inc., on behalf of a syndicate of agents (collectively, the "Agents"), in connection with a commercially reasonable efforts, public offering of up to 27,800,000 units of the Company (the "Units") at a price of $0.18 per Unit (the "Unit Offering Price") for aggregate gross proceeds to the Company of up to $5,004,000 (the "Public Offering").
Each Unit will consist of one common share of the Company (a "Unit Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one common share of the Company at a price of $0.27 per share at any time prior to the date which is 36 months following the applicable closing date.
The Units issuable under the Public Offering will be offered pursuant to a prospectus supplement (the "Supplement") to the Company's base shelf prospectus dated January 23, 2024 (the "Shelf Prospectus"). The terms of the Public Offering will be described in the Supplement which will be filed with the securities regulators in each of the provinces and territories of Canada (excluding Quebec) and the Units may also be offered by way of private placement in the United States and in offshore jurisdictions in accordance with applicable securities laws.
The Agents have been granted an option (an "Over-Allotment Option") to purchase up to an additional 15% of the number of Units issuable under the Public Offering at the Unit Offering Price, exercisable in whole or in part, up to 48 hours prior to the closing of the Public Offering.
In addition, the Company intends to complete a non-brokered private placement of up to 55,600,000 Units at the Unit Offering Price and up to 22,730,000 flow-through units (the "FT Units") at a price of $0.22 per FT Unit for total gross proceeds of up to $15,008,600 (the "Non-Brokered Offering" and together with the Public Offering, the "Offering"). Combined the Company expects to receive gross proceeds of up to $20,012,600 upon completion of the Offering. Each FT Unit will consist of one FT Share (a "FT Share") and one-half of a Warrant.
Each FT Share will qualify as a "flow-through share" within the meaning of the Income Tax Act (Canada) and will be offered on a private placement basis to accredited investors in each of the provinces of Canada except Quebec) pursuant to applicable prospectus exemptions in accordance with NI 45-106. All securities issued in connection with the Non-Brokered Offering will have a statutory hold period of four months and one day from the closing date.
The net proceeds from the sale of Units ...
