- FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) announces a $5 million non-brokered private placement primarily for funding its Mustajärvi Project.
- The company will execute a 10-for-1 share consolidation to reduce outstanding shares from approximately 203 million to 20 million shares.
- The financing will support significant drilling activities, with closure of both transactions expected around August 15, 2025.
FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) is raising $5 million through a strategic non-brokered private placement, aimed at enhancing its Mustajärvi Project in Finland. The placement includes a substantial $2 million contribution led by new investor John Robins and Concept Capital Management Ltd. The offering totals up to 125 million units at C$0.04 each, with each unit comprising one share and one warrant exercisable at C$0.06 for three years.
In a concurrent maneuver, FireFox will implement a 10-for-1 share consolidation, aiming to reduce its outstanding shares from about 203,284,749 to approximately 20,328,475. This structural change seeks to align the share structure with the company's asset quality and attract institutional investors without impacting its overall valuation.
The proceeds from this financing will primarily fund drilling programs at the Mustajärvi Project, which has reported significant high-grade gold findings, such as 13.85 meters averaging 28.8 g/t gold and 6.87 meters averaging 59.12 g/t gold in surface trenching. The company anticipates closing both the private placement and share consolidation around August 15, 2025, pending necessary regulatory approvals from the TSX Venture Exchange.
FireFox continues to advance its exploration efforts with year-round drilling permits and aims to capitalize on historically high gold prices to expand its exploration activities across its portfolio in Finland.
