First Mining Gold (TSX:FF) has announced a C$50 million ($50.2 million) bought-deal equity raising to advance its Springpole and Duparquet gold projects in Canada.
The company has agreed to issue 59.53 million shares at C$0.84 each through underwriters Haywood Securities, ATB Cormark Capital Markets, and National Bank Financial.
The underwriters hold a 30-day over-allotment option for an additional 15% of shares at the same price.
Net proceeds will fund development of the Springpole Gold Project in northwestern Ontario and the Duparquet Gold Project in Québec, alongside general working capital.
Springpole received federal environmental assessment approval in June 2026, a permitting milestone for one of Canada’s largest undeveloped gold deposits.
Meanwhile, Duparquet sits on the Destor-Porcupine Fault Zone in Québec’s Abitibi region and remains at preliminary economic assessment stage.
Shares will be offered through a prospectus supplement to the company’s February 2026 base shelf prospectus across Canadian provinces and territories, excluding Québec.
The offering is expected to close around 24 September 2026, subject to customary conditions including Toronto Stock Exchange approval.
CEO Daniel Wilton leads the company, established in 2015 by Keith Neumeyer, founder of First Majestic Silver (NYSE:AG). First Mining also holds a 20% interest in Ontario’s Pickle Crow Gold Project and equity positions in Seva Mining.
First Mining Gold is a Canadian gold developer advancing two of Canada’s largest undeveloped gold projects, Springpole and Duparquet.
Write to JC Villarba at Mining.com.au
Main image: First Mining Gold
