First Mining Gold Corp. (TSX: FF) has closed the final tranche of its upsized non-brokered private placement. Together with the funds received by the company in the first tranche of the Offering, First Mining raised approximately $5.3 million in total gross proceeds across the two tranches of the Offering.
The offering of common shares of the company qualify as flow-through shares for the purposes of the Income Tax Act (Canada).
The gross proceeds raised from the sale of the Flow-Through Shares under the Offering will be used by First Mining to fund exploration programs 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. Its 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.
