FireFox Gold Closes First Tranche of Non-Brokered Private Placement

Vancouver, BC / ACCESSWIRE / July 15, 2024 / FireFox Gold Corp. (TSX.V:FFOX)(OTCQB:FFOXF) has announced the completion of the first tranche of its non-brokered private placement. Subject to regulatory acceptance, the company has raised $456,000. This was accomplished by issuing 9,120,000 units at a purchase price of $0.05 per unit. Each unit includes one common share and one common share purchase warrant, which is exercisable at $0.08 per share for three years.

The raised funds will be used for mineral exploration in northern Finland and for general working capital. Certain directors, officers, and insiders acquired 250,000 units, making this a "related party transaction" under TSX Venture Exchange Policy 5.9 and MI 61-101. The company utilized exemptions from valuation and minority shareholder approval requirements. Qualified finders are set to receive $19,950 in cash and 399,000 finders warrants.

Firefox plans a second tranche of the private placement by August 9, 2024, with additional participation from directors, officers, and insiders.