First Mining Gold Corp. (TSX: FF) has confirmed announce that it intends to complete a flow-through equity financing by way of a non-brokered private placement for aggregate proceeds of approximately $5 million.
The Offering will consist of 16,500,000 common shares of the company that qualify as flow-through shares for purposes of the Income Tax Act (Canada), at a price of $0.30 per Flow-Through Share.
The gross proceeds raised from the sale of 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).
The closing of the Offering is expected to occur on or before August 26, 2022.
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.
For further information please visit: https://firstmininggold.com/
