First Mining Announces Closing of C$8 Million Bought Deal Financing Including the Full Exercise of Over-Allotment Option
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OTCQX: FFMGF
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NEWS RELEASE
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
First Mining Announces Closing of C$8 Million Bought Deal Financing
Including the Full Exercise of Over-Allotment Option
September 26, 2024 – Vancouver, Canada – First Mining Gold Corp. (“First Mining” or the “Company”)
(TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce the closing of its previously
announced bought deal public offering (the "Offering") of 59,629,800 units of the Company (the "Units")
at a price of $ 0.135 per Unit for aggregate gross proceeds of $8,050,023, which includes the exercise of
the full amount of the over-allotment option granted to the underwriters of 7,777,800 Units.
The Offering was completed pursuant to an underwriting agreement dated September 23, 2024, among
the Company , Cormark Securities Inc . and Haywood Securities Inc., as co -lead underwriters and joint
bookrunners, and Ventum Financial Corp., BMO Capital Markets and H.C. Wainwright & Co., LLC.
Each Unit is comprised of one common share of the Company and one-half of one common share purchase
warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant entitles the holder to
acquire one common share of the Company at a price of $ 0.20 per share at any time prior to the date
which is 36 months from the closing of the Offering.
The net proceeds from the Offering will be used to advance First Mining’s Springpole and Duparquet gold
projects, as well as for general working capital and corporate purposes.
The Offering was conducted by way of a prospectus supplement dated September 23, 2024 (the
“Prospectus Supplement”) to the Company’s existing short form base shelf prospectus dated January 23,
2024 (the “ Base Shelf Prospectus ”) in each of the provinces of Canada (other than the province of
Québec). The Prospectus Supplement (together with the Base Shelf Prospectus) is available on SEDAR+
at www.sedarplus.ca.
The Units offered have not been registered under the U.S. Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constit ute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the Units in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
About First Mining Gold Corp.
First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold
Project in northwestern Ontario, where we have commenced a Feasibility Study and permitting activities
are on-going with a draft Environmental Impact Statement (“EIS”) for the project published in June 2022,
and the Duparquet Project in Quebec, a PEA-stage development project located on the Destor-Porcupine
Fault Zone in the prolific Abitibi region. First Mining also owns the Cameron Gold Project in Ontario and a
portfolio of gold project interests including the Pickle Crow Gold Project (being advanced in partnership
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with Firefly Metals Ltd.) and the Hope Brook Gold Project (being advanced in partnership with Big Ridge
Gold Corp.).
First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of First Majestic
Silver Corp.
ON BEHALF OF FIRST MINING GOLD CORP.
Daniel W. Wilton
Chief Executive Officer and Director
For further information, please contact:
Toll Free: 1 844 306 8827 | Email: [email protected]
Paul Morris | Director, Investor Relations | Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain “ forward-looking information” and “ forward-looking statements” (collectively
“forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation
including the United States Private Securities Litigation Reform Act of 1995. These forward- looking statements are
made as of the date of this n ews release. Forward -looking statements are frequently, but not always, identified by
words such as “ expects”, “anticipates”, “believes”, “plans”, “projects”, “ intends”, “estimates”, “envisages”,
“potential”, “possible”, “strategy”, “goals”, “opportunities”, “objectives”, or variations thereof or stating that certain
actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative
of any of these terms and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and reflect current
estimates, predictions, expectations or beliefs regarding future event s and include, but are not limited to, the use of
the net proceeds of the Offering. All forward-looking statements are based on First Mining's or its consultants' current
beliefs as well as various assumptions made by them and information currently available to them. There can be no
assurance that such statements will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such statements. Forward- looking statements reflect the beliefs, opinions and projections
on the date the statements are made and are based upon a number o f assumptions and estimates that, while
considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Such factors include, without limitation, the Company’s business,
operations and financial condition potentially being materially adversely affected by the outbreak of epidemics,
pandemics or other health crises, and by reactions by government and private actors to such outbreaks; risks to
employee health and safety as a result of the outbreak of epidemics, pandemics or other health crises, that may result
in a slowdown or temporary suspension of operations at some or all of the Company's mineral properties as well as
its head office; fluctuations in the spot and forward price of gold, silver, base metals or certain other commodities;
fluctuations in the currency markets (such as the Canadian dollar versus the U.S. dollar); changes in national and
local government, legislation, taxation, controls, r egulations and political or economic developments; risks and
hazards associated with the business of mineral exploration, development and mining (including environmental
hazards, industrial accidents, unusual or unexpected formations, pressures, cave- ins and flooding); the presence of
laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by
local communities, indigenous populations and other stakeholders; availability and increasing costs associated w ith
mining inputs and labour; the speculative nature of mineral exploration and development; title to properties.; and
the additional risks described in the Company’s Annual Information Form for the year ended December 31, 2023 filed
with the Canadian securities regulatory authorities under the Company’s SEDAR+ profile at www.sedarplus.ca.
First Mining cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying
on our forward-looking statements to make decisions with respect to First Mining, investors and others should
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carefully consider the foregoing factors and other uncertainties and potential events. First Mining does not undertake
to update any forward- looking statement, whether written or oral, that may be made from time to time by the
Company or on our behalf, except as required by law.