Firefox GOLD Announces Closing of $2,110,000 Initial Public Offering
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FIREFOX GOLD ANNOUNCES CLOSING OF $2,110,000 INITIAL PUBLIC OFFERING
V ANCOUVER, BC – (21 December, 2018) – FireFox Gold Cor p. (“FireFox” or the “Company”) is pleased to
announce that it has successfully completed its previously announced initial public offering (the “Offering”) of an
aggregate of 5,275,000 units of the Company (the “Units”) at a price of $0.40 per Unit (the “Offering Price”). Each
Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one-half of one
Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”) of the Company.
Each Warrant entitles the holder thereof to acquire, subject to adjustment in accordance with the warrant indenture
governing the Warrants, one Common Share at an exercise price of $0.60 at any time prior to 5:00 p.m. (Vancouver
time) on December 21, 2020, being the date that is 24 months following their date of issue.
The Offering was made pursuant to the terms of an agency agreement (the “Agency Agreement”) between the
Company and PI Financial Corp., as sole bookrunner and lead agent, Canaccord Genuity Corp. and M Partners Inc.
(collectively, the “Agents”).
FireFox has granted to the Agents an over-allotment option, exercisable in whole or in part, at the sole direction of
the Agents, at any time and from time to time, for a period of 30 days following the date of closing of the Offering,
to offer additional Units, for sale in an amount up to 15% of the Offering, at the Offering Price, to cover over -
allotments, if any, and for market stabilization purposes.
The Company intends to use the net proceeds from the Offering (i) to fund exploration and development activities
on the Mustajärvi and Jeesiö properties, (ii) to complete Phase I of the work program recommended pursuant to the
technical report entitled “2018 Technical (N.I. 43-101) Report on the Mustajärvi Property” with an effective date
of July 15th, 2018, an issue date of September 3, 2018 and an amended and restated date of November 23, 2018,
(iii) to conduct the portions of the wo rk program recommended pursuant to the technical report entitled “ 2018
Technical (N.I. 43 -101) Report on the Jeesiö Property ” with an effective date of April 10th, 2018, and (iv) for
general and administrative purposes, option payments and working capital requirements.
The TSX Venture Exchange (the “TSX -V”) has approved the listing of the Common Shares and Warrants
comprising the Units, as well as the Company’s existing issued and outstanding Common Shares.
The Common Shares are currently halted and will resume trading on the TSX-V at market open on December 27,
2018 under the symbol FFOX. The Warrants will resume trading on the TSX-V at that same time under the symbol
FFOX.WT.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The Units
and the underlying securities have not been and will not be registered under the United States Securities Act of
1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the Units and the underlying
securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and
applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities
Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an
offer to buy any securities of FireFox in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About FireFox Gold Corp.
FireFox is a non-listed reporting issuer in each of the provinces of Canada, other than Québec, focused entirely on
gold exploration in Finland. The Company has entered into option agreements with Magnus Minerals Ltd., a private
prospect generator company in Finland, through which it has options to acquire 100% interests in several projects
(subject to an NSR royalty) that currently encompass approximately 104,000 hectares, that complement
approximately 4,000 hectares of exploration reservations and exploration permits already held directly by the
Company. In order to complete the combined options, the Company must invest CAD $4.0 million in exploration
on the properties and make cash payments to Magnus totaling up to CAD $450,000 over the course of the two
separate three-year option periods.
Finland is one of the top mining jurisdictions in the world as indicated by its 1st ranking in the 2017 Fraser Institute
Survey of Mining Companies. Having a strong mining law and long mining tradition, Finland remains
underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is
proud to have a Finland based CEO and technical team.
On behalf of the Board of Directors,
“Carl Löfberg”
Chief Executive Officer
CONTACT:
FireFox Gold Corp.
Email: [email protected]
Telephone: 604-558-7687
Forward-Looking Statements: The information in thi s news release contains forward -looking statements that are subject to a
number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from
those anticipated in our forward-looking statements. Factors that could cause such differenc es include: changes in world
commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and
changes to regulations affecting the mining industry. Forward -looking statements in this news release include statements
regarding the use of proceeds by the Company and the Common Shares and Warrants being listed on the TSX-V. Although we
believe the expectations reflected in our forward-looking statements are reasonable, results may vary. The forward-looking
statements contained in this news release represent the expectations of FireFox as of the date of this news release and,
accordingly, are subject to change after such date. Readers should not pl ace undue importance on forward -looking statements
and should not rely upon this information as of any other date. FireFox does not undertake to update this information at any
particular time except as required in accordance with applicable laws. It should also be noted that while FireFox ’s properties
are sometimes adjacent to or nearby operating or historic gold mines or active gold projects being advanced by other companies,
the mineralization on properties nearby FireFox ’s land packages is not necessarily indicative of mineralization on FireFox ’s
properties.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.