/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Sept. 26,
2024 /CNW/ - First Mining Gold Corp. ("First
Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF)
(FRANKFURT: FMG) is pleased to announce the closing of its
previously announced bought deal public offering (the
"Offering") of 59,629,800 units of the Company (the
"Units") at a price of $0.135
per Unit for aggregate gross proceeds of $8,050,023, which includes the exercise of the
full amount of the over-allotment option granted to the
underwriters of 7,777,800 Units.
The Offering was completed pursuant to an
underwriting agreement dated September 23,
2024, among the Company, Cormark Securities Inc. and Haywood
Securities Inc., as co-lead underwriters and
joint bookrunners, and Ventum Financial Corp., BMO Capital
Markets and H.C. Wainwright & Co., LLC.
Each Unit is comprised of one common share of the Company and
one-half of one common share purchase warrant (each whole common
share purchase warrant, a "Warrant"). Each Warrant entitles
the holder to acquire one common share of the Company at a price of
$0.20 per share at any time prior to
the date which is 36 months from the closing of the Offering.
The net proceeds from the Offering will be used to advance First
Mining's Springpole and Duparquet
gold projects, as well as for general working capital and corporate
purposes.
The Offering was conducted by way of a prospectus supplement
dated September 23, 2024 (the
"Prospectus Supplement") to the Company's existing short
form base shelf prospectus dated January 23,
2024 (the "Base Shelf Prospectus") in each of the
provinces of Canada (other than
the province of Québec). The Prospectus Supplement (together with
the Base Shelf Prospectus) is available on SEDAR+
at www.sedarplus.ca.
The Units offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the Units in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About First Mining Gold Corp.
First Mining is a gold developer advancing two of the largest
gold projects in Canada, the
Springpole Gold Project in northwestern Ontario, where we have commenced a Feasibility
Study and permitting activities are on-going with a draft
Environmental Impact Statement ("EIS") for the project published in
June 2022, and the Duparquet Project
in Quebec, a PEA-stage development
project located on the Destor-Porcupine Fault Zone in the prolific
Abitibi region. First Mining also owns the Cameron Gold Project in
Ontario and a portfolio of gold
project interests including the Pickle Crow Gold Project (being
advanced in partnership with Firefly Metals Ltd.) and the Hope
Brook Gold Project (being advanced in partnership with Big Ridge
Gold Corp.).
First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of
First Majestic Silver Corp.
ON BEHALF OF FIRST MINING GOLD CORP.
Daniel W. Wilton
Chief Executive Officer and Director
Cautionary Note Regarding Forward-Looking
Statements
This news release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian and United States
securities legislation including the United States Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are made as of the date of this news release.
Forward-looking statements are frequently, but not always,
identified by words such as "expects", "anticipates", "believes",
"plans", "projects", "intends", "estimates", "envisages",
"potential", "possible", "strategy", "goals", "opportunities",
"objectives", or variations thereof or stating that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions.
Forward-looking statements in this news release relate to
future events or future performance and reflect current estimates,
predictions, expectations or beliefs regarding future events and
include, but are not limited to, the use of the net proceeds of the
Offering. All forward-looking statements are based on First
Mining's or its consultants' current beliefs as well as various
assumptions made by them and information currently available to
them. There can be no assurance that such statements will prove to
be accurate, and actual results and future events could differ
materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon
a number of assumptions and estimates that, while considered
reasonable by the respective parties, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Such factors include, without
limitation, the Company's business, operations and financial
condition potentially being materially adversely affected by the
outbreak of epidemics, pandemics or other health crises, and by
reactions by government and private actors to such outbreaks; risks
to employee health and safety as a result of the outbreak of
epidemics, pandemics or other health crises, that may result in a
slowdown or temporary suspension of operations at some or all of
the Company's mineral properties as well as its head office;
fluctuations in the spot and forward price of gold, silver, base
metals or certain other commodities; fluctuations in the currency
markets (such as the Canadian dollar versus the U.S. dollar);
changes in national and local government, legislation, taxation,
controls, regulations and political or economic developments; risks
and hazards associated with the business of mineral exploration,
development and mining (including environmental hazards, industrial
accidents, unusual or unexpected formations, pressures, cave-ins
and flooding); the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and
claims by local communities, indigenous populations and other
stakeholders; availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral
exploration and development; title to properties.; and the
additional risks described in the Company's Annual Information Form
for the year ended December 31, 2023
filed with the Canadian securities regulatory authorities under the
Company's SEDAR+ profile at www.sedarplus.ca.
First Mining cautions that the foregoing list of factors that
may affect future results is not exhaustive. When relying on our
forward-looking statements to make decisions with respect to First
Mining, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
First Mining does not undertake to update any forward-looking
statement, whether written or oral, that may be made from time to
time by the Company or on our behalf, except as required by
law.
SOURCE First Mining Gold Corp.
