First Mining Gold (TSX:FF) has closed its bought deal public offering, raising US$57.5 million ($82 million) to advance its Springpole and Duparquet gold projects in Canada.
The company issued around 68.5 million common shares at $0.80 per share for aggregate gross proceeds of $57.5 million, including full exercise of the overallotment option.
The offering was completed through a syndicate of underwriters co-led by Haywood Securities, ATB Cormark Capital Markets, and National Bank Financial. The syndicate also included Canaccord Genuity, SCP Resource Finance, Beacon Securities, H.C. Wainwright & Co, Ventum Financial, and BMO Capital Markets.
First Mining has earmarked the net proceeds for the advancement of its Springpole Gold Project in northwestern Ontario and the Duparquet Gold Project in Québec, as well as for general working capital and corporate purposes.
According to the company, the federal environmental assessment for the Springpole Project was approved in June 2026. Meanwhile, the Duparquet Project, located on the Destor-Porcupine fault zone in the Abitibi region, is at the preliminary economic assessment stage.
The offering was completed through a prospectus supplement to the company’s base shelf prospectus dated 23 February 2026. The common shares were also offered by way of private placement in the US and offshore jurisdictions in accordance with applicable securities laws.
The offering remains subject to final approval from the Toronto Stock Exchange.
First Mining Gold is a Canadian gold developer focused on advancing its portfolio of mineral assets in North America. The company also owns a 20% project interest in the Pickle Crow Gold Project in Ontario and a large equity interest in Seva Mining (TSX-V:SEVA).
Write to Paula Fabe at Mining.com.au
Main image: First Mining Gold
