Subject to regulatory approval, FireFox Gold Corp. (TSX.V: FFOX) announces that it has completed the second and final tranche of the non-brokered private placement announced on September 21, 2022, effective November 15, 2022. The Company raised $506,000 in gross proceeds by issuing 5,060,000 units at a purchase price of $0.10 per unit. Each unit comprises one common share of the Company and one-half common share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share of the Company at $0.18 per share for two years following issuance. The shares issued as part of the Private Placement will be subject to a four-month-plus-one-day statutory hold period, as required by law, once issued.
FireFox plans to invest the money raised from the Private Placement on its gold exploration ventures in Finland for working capital and general corporate purposes. In connection with the first tranche of the Private Placement, FireFox paid finders $1,800 in cash finders’ fees and issued 18,000 finders’ warrants exercisable at $0.18 for two years.