First Mining Gold Corp. (TSX: FF) has upsized its previously announced non-brokered private placement offering of common shares of the company and closed the first tranche of the Offering.
Pursuant to the first tranche, First Mining issued 15,749,868 Flow-Through Shares at a price of $0.30 per Flow-Through Share raising aggregate gross proceeds of approximately C$4.7 million. First Mining expects to close the remainder of the Offering on or about September 2, 2022 and expects the total Offering to be approximately C$5.2 million in total gross proceeds.
The gross proceeds raised from the sale of the Offering will be used by First Mining to fund exploration programmes that qualify as “Canadian Exploration Expenses” (CEE) and “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada).
About First Mining Gold Corp.
First Mining is a gold developer advancing a portfolio of gold projects in Canada, with our most advanced project being the Springpole Gold Project in northwestern Ontario, which is one of the largest undeveloped gold projects in Canada, and where we have commenced a Feasibility Study and permitting activities are on-going with a draft Environmental Impact Statement (EIS” for the project submitted in June 2022.
First Mining also owns the Cameron, Duparquet, Duquesne and Pitt gold projects, all advanced-stage gold projects in Ontario (in the case of Cameron) and Québec. Our portfolio of gold project interests also includes the Pickle Crow gold project (being advanced in partnership with Auteco Minerals Ltd.), the Hope Brook gold project (being advanced in partnership with Big Ridge Gold Corp.), an equity interest in Treasury Metals Inc., and a portfolio of 21 gold royalties.
For further information please visit: https://firstmininggold.com/
