FireFox Gold: Announces Non-Brokered Private Placement
VANCOUVER, BC – (October 13, 2020) – FireFox Gold Corp. (“FireFox” or the “Company”) announces that it intends to raise up to $2,000,000 by way of a non-brokered private placement (the “Private Placement”). The Private Placement will consist of up to 11,111,111 units of the Company (“Units”) at a price of $0.18 per Unit. Each Unit will consist of one common share of the Company (“Common Share”) and one-half of one common share purchase warrant (“Warrant”), with each whole Warrant being exercisable to acquire one common share of the Company (a “Warrant Share”) at an exercise price of $0.27 per Warrant Share for a term of two years following the closing of the Offering.
It is anticipated that the proceeds of the Private Placement will be used for general working capital and exploration activities on FireFox’s gold exploration properties in Finland. Prior to this financing, FireFox has 68.9 million shares outstanding, 31 million warrants, and 6.2 million stock options issued.
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 anticipates that the Private Placement will close on or about October 23, 2020. The Company expects to pay finder’s fees in association with this financing.
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