/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
WIRE SERVICES/
VANCOUVER, BC, April 30, 2021 /CNW/ - FireFox Gold Corp. (TSXV:
FFOX) ("FireFox" or the "Company") announces that effective today,
subject to regulatory acceptance, it has completed the non-brokered
private placement (the "Private Placement") announced on
April 8, 2021 ($2.0M) and subsequently increased to $3.0M on April 22,
2021.
The Private Placement raised total gross proceeds of
$3,000,000 by issuing 16,666,664
units at a purchase price of $0.18
per unit. Each unit consists of one common share of the Company and
one half of one common share purchase warrant, with each whole
warrant being exercisable to acquire one additional common share of
the Company at an exercise price of C$0.27 per share for a term of two years from the
date of issuance. The shares issued pursuant to the Private
Placement will be subject to a statutory hold period of four months
plus one day from the date of issuance, in accordance with
applicable securities legislation.
The Company intends to use the proceeds of the Private Placement
for general corporate purposes, working capital and exploration
activities on FireFox's gold exploration properties in Finland.
M Partners Inc. and other firms acted as finders in this
placement. In association with this financing, subject to TSX-V
acceptance, the Company will pay to qualified finders $67,533 in cash finder's fees and will issue
312,655 finders warrants exercisable at $0.18 for 2 years from the date of
issuance.
About FireFox Gold Corp.
FireFox Gold Corp is listed on the TSX Venture stock exchange
under the ticker symbol FFOX. The Company is focused entirely on
gold exploration in Finland where
it is exploring its project portfolio that includes over 80,000
hectares of prospective ground.
Finland is one of the top
mining investment jurisdictions in the world as indicated by its
multiple top-10 rankings in recent Fraser Institute Surveys of
Mining Companies. Having a strong mining law and long mining
tradition, Finland remains
underexplored for gold. Recent exploration results in the country
have highlighted its prospectivity, and FireFox is proud to have a
Finland based CEO and technical
team.
For more information concerning the Company, please refer to the
Company's profile on the SEDAR website at www.sedar.com.
On behalf of the Board of Directors,
"Carl Löfberg"
Chief Executive Officer
Forward Looking Statements
The information herein contains forward looking statements that
are subject to a number of known and unknown risks, uncertainties
and other factors that may cause actual results to differ
materially from those anticipated in our forward-looking
statements. Factors that could cause such differences include:
changes in world commodity markets, equity markets, the extent of
work stoppage and economic impacts that may result from the COVID
19 virus, costs and supply of materials relevant to the mining
industry, change in government and changes to regulations affecting
the mining industry.
Forward-looking statements in this release may include
statements regarding: the expected total financing amounts, terms,
and timeframe; and the current and future work program, including
the extent and nature of exploration to be conducted in 2021.
Although we believe the expectations reflected in our
forward-looking statements are reasonable, results may vary. The
forward-looking statements contained herein represent the
expectations of FireFox as of the date of dissemination and,
accordingly, are subject to change after such date. Readers should
not place undue importance on forward-looking statements and should
not rely upon this information as of any other date. FireFox does
not undertake to update this information at any particular time
except as required in accordance with applicable laws.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE,
PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO THE
UNITED STATES.
SOURCE FireFox Gold Corp.
