VANCOUVER, BC, May 28, 2024 /CNW/ – First Mining Gold Corp. (“First Mining” or the “Company”) (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce that it intends to complete a flow-through equity financing by way of a non-brokered private placement for aggregate proceeds of up to $5 million (the “Offering“). The Offering will consist of up to 24,242,424 national flow-through common shares of the Company (the “National FT Shares“) at a price of $0.165 per National FT Share and 11,111,111 Quebec flow-through common shares of the Company (the “Quebec FT Shares“) at a price of $0.18 per Quebec FT Share.
The gross proceeds raised from the Offering will be used by First Mining to fund exploration programs that qualify as “Canadian exploration expenses” and “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada) for the National FT Shares and will also qualify for inclusion in the…
