Firefox Launches a $5.0 Million Financing with a Concurrent Share Consolidation
FIREFOX LAUNCHES A $5.0 MILLION FINANCING WITH A
CONCURRENT SHARE CONSOLIDATION
VANCOUVER, BC (July 15, 2025) – FireFox Gold Corp. (TSX.V: FFOX) (OTCQB: FFOXF) ("FireFox"
or the "Company") announces that it intends to rais e $5,000,000 by way of a non -brokered private
placement (the “Offering”), anchored by a strategic investment package of more than $2.0M led by new
investor John Robins, Concept Capital Management Ltd, and other existing investors.
In conjunction with the Offering, the Company is also taking the initiative to consolidate its share structure
on a 10 -for-1 basis. A share consolidation conducted in this fashion does not affect the valuation of the
Company or its assets, and it affects all shareholders equally, as newly issued shares that are part of this
Offering will also be consolidated. The Company believes that the support of new incoming cornerstone
investors, plus several large existing shareholders and the board of directors , for this financing and
consolidation plan reflects the solid benefits of tighter share capital.
FireFox Co-Founder and Chairman, Patrick Highsmith, discussed the plan, “FireFox’ s Mustajärvi project
continues to attract international attention, and the pace of those inquiries and our urgency to advance the
project has increased in 2025 . Our Sarvi project, which adjoins the Ikkari Deposit owned by Rupert
Resources1, is also a high -profile asset in need of more drilling. The Lapland greenstone belt hosts two
multi-million-ounce gold deposits2, and the most prospective ground is controlled by very few companies.
It is now a highly competitive gold province, and the belt is finally attracting the investor attention it
deserves. This progress is partially a function of historically high gold prices, but we are also seeing
improved investor appetite for well managed gold explorers. We are very pleased to have assembled a
syndicate of new investors alongside several of our large existing shareholders and board members , to
support this financing. At the same time, we recognize the value of consolidating our share capital to better
align our share structure and price with the quality of our assets and our discovery potential.”
Carl Lofberg, Company Co-Founder and CEO, spoke about FireFox’s exciting drill targets, “Mustajärvi is
an exciting target for high-grade gold discovery. This is even more evident at these historically high gold
prices, but it is clear that we need to increase the pace of drilling to realize the project’ s potential. The heart
of the high-grade zone in the East Target is shallower than 50 metres, and our latest intercepts indicate that
the system extends well to the southwest and to more than 200 metres depth. Our upcoming drill program
will incorporate infill and step-out drilling, along with testing new targets. We are permitted for year-round
drilling at Mustajärvi and several other projects, and we look forward to increasing the pace of news flow
for the foreseeable future.”
Growth Targets at the Mustajärvi Project
FireFox has reported significant and near -surface intercepts of high -grade gold at the Mustajärvi Project
since 2019, but the strongest results coincided with a soft market for junior exploration companies in 2022
and early 2023:
• 13.85m averaging 28.8 g/t gold (July 2022 news release)
• 15.5m averaging 13.09 g/t gold (January 2023 news release)
• 12.55m averaging 14.34 g/t gold (February 2023 news release)
Nevertheless, the project has grown in significance as the team discerned the complex controls on the gold
mineralization and demonstrated the growth potential between the existing lodes and at depth. The FireFox
team also identified high-grade gold coming to surface in a trench reported in July 2023, 6.87m averaging
59.12 g/t gold. Company geologists carried out surface prospecting, detailed magnetic and electromagnetic
geophysical surveys, as well as core logging and extensive structural geology and 3D mo delling to better
understand the growth targets.
Orogenic gold systems like Mustajärvi may occur in challenging geometries, but important structures and
robust hydrothermal systems yield large discoveries from large drill programs. FireFox is taking these steps
now and working to bring in new investors to support larger drill programs with the purpose of upgrading
the Mustajärvi discovery. At the same time, the team is very efficient, and FireFox always aims to be active
on multiple projects.
The Company has secured drill rig availability for a significant drill program to start within a few weeks of
closing the Offering, and FireFox expects to drill through the winter.
The Offering
The Company is conducting a non-brokered private placement of up to 125,000,000 units (each a “Unit”)
at a price of C$0.04 per Unit (the “ Offering Price”) for aggregate gross proceeds of up to C$ 5,000,000.
Each Unit is comprised of one pre -consolidation common share (each, a “ Share”) and one pre -
consolidation common share purchase warrant (each, a “Warrant”). Each Warrant will be exercisable for
one common share (each, a “Warrant Share”) at an exercise price of C$0.06 (the “ Exercise Price”) and
will expire three years from the closing date of the Offering.
The Company expects to close the Offering on or about August 15, 2025, or such other date as the Company
may determine (the “Closing Date”).
The net proceeds of the Offering are expected to fund a significant drill program at the Mustajärvi Project,
as well as a return to drilling at the Sarvi project along with other exploration work, working capital and
general corporate purposes.
Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory approvals including the approval of the TSX Venture Exchange (the “TSXV”). The
TSXV has not approved the Offering Price or the Exercise Price and these remain subject to change. The
Shares, Warrants and Warrant Shares will be subject to a statutory hold period of four months plus one day
from the Closing Date, in accordance with applicable securities legislation.
In connection with the Offering, the Company anticipates paying certain arm’s length parties a cash finder’s
fee payment equal to up to a certain percentage, based on the Units that are sold to subscribers introduced
by such parties.
It is expected that certain Insiders of the Company (as such term is defined under the policies of the TSXV),
including certain directors, will participate in the Offering. The participation of Insiders in the Offering will
constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection
of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely upon
exemptions from the formal valuation and minority approval requirements of MI 61 -101 based on a
determination that the fair market value of the Offering, insofar as it involves the related parties, does not
exceed $2,500,000.
The Share Consolidation
In connection with the Offering, FireFox provides notice that its board of directors has resolved to complete
a 10-for-1 share consolidation (the “Share Consolidation”) of its common shares. The Company has filed
for approval of the Share Consolidation with the TSX V and expects to complete the Share Consolidation
on or about August 15, 2025. The rising gold price and improved investor sentiment in the gold discovery
pipeline have prompted the Company to take this initiative for the benefit of its shareholders and to better
attract interest from institutional and sophisticated investors.
As of this date, there are a total of 203,284,749 common shares (the “Pre-Consolidation Shares”) issued
and outstanding. Upon the completion of the Share Consolidation, these Pre-Consolidation Shares will be
consolidated to approximately 20,328,475 post -consolidation common shares (the “ Post-Consolidation
Shares”), excluding up to an additional 12,500,000 Post-Consolidation Shares issuable at closing of the
Offering. No fractional Post-Consolidation Shares will be issued as a result of the Consolidation, and any
fractional share interest will be rounded down to the nearest whole Post -Consolidation Share. No cash
consideration will be paid in respect of fractional shares. The Post-consolidation Shares are expected to
commence trading on the TSXV on or around August 15, 2025. The Share Consolidation has been approved
by the board of directors pursuant to a resolution passed on February 25, 2025, and is subject to TSXV
approval.
In addition, the Company currently has 14,690,000 stock options and 59,208,254 warrants outstanding.
These securities will also be consolidated on a 10 -for-1 basis. This will result in 1,469,000 post -
consolidation options and 5,920,825 post -consolidation warrants plus the up to 12,500,000 post-
consolidation warrants that will have been issued with th e Offering. The exercise or conversion price and
the number of common shares issuable under any of the Company’s outstanding warrants and stock options
will be proportionately adjusted to reflect the Share Consolidation in accordance with their respective terms.
There will be no name or symbol change in conjunction with the Share Consolidation. The Company will
advise of the new CUSIP and ISIN numbers for the Post-Consolidation Shares as the effective date for the
Share Consolidation nears.
Quality Assurance
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is
a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed,
and approved the technical information in this news release. As a director and shareholder of the Company,
he is not independent.
About FireFox Gold Corp.
FireFox Gold Corp is listed on the TSX Venture Stock Exchange under the ticker symbol FFOX. FireFox
also trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The
Company has been exploring for gold in Finland since 2017 where it holds a large portfolio of prospective
ground.
Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top -10
rankings in recent Fraser Institute Surveys 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.
For more information, please refer to the Company’s website and profile on the SEDAR + website at
www.sedarplus.ca.
On behalf of the Board of Directors,
"Carl Löfberg"
Chief Executive Officer
CONTACT:
FireFox Gold Corp.
Email: [email protected]
Telephone: +1-778-938-1994
Cautionary Notes
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of the content
of this release.
This press release is intended for distribution in Canada only and is not intended for distribution to
United States newswire services or dissemination in the United States.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The 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 and may not be
offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements
Certain statements and information contained in this news release, contain forward-looking statements and
forward-looking information within the meaning of applicable securities laws. Such forward-looking
statements or information include but are not limited to statements or information with respect to: the terms
and conditions of the Offering; the closing date for the Offering; the anticipated use of net proceeds from
the Offering; the intent to conduct additional exploration; the belief as to the location of the most
prospective gold targets; the location of targets for future exploration programs; and the current and future
work program, including the extent and nature of explorat ion to be conducted in 2025. Often, but not
always, forward-looking statements or information can be identified by the use of words such as “estimate”,
“project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the
negative of these words or such v ariations thereon or comparable terminology are intended to identify
forward-looking statements and information. With respect to forward-looking statements and information
contained herein, the Company has made numerous assumptions incl uding among other things,
assumptions about general business and economic conditions and the price of gold and other minerals. The
foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations
represented by such statements or information are reasonable, there can be no assurance that forward -
looking statements or information herein will prove to be accura te. Forward -looking statements and
information by their nature are based on assumptions and involve known and unknown risks, uncertainties
and other factors which may cause actual results, performance or achievements, or industry results, to be
materially different from any future results, performance or achievements expressed or implied by such
forward-looking statements or information. These factors include, but are not limited to: risks relating to
the Company’ s financing efforts; business and economic conditions in the mining industry generally;
changes in world commodity markets and equity markets; the supply and demand for labour and other
project inputs; changes in interest and currency exchange rates; changes in government and changes to
regulations affecting the mining industry ; risks relating to inaccurate geological and engineering
assumptions; risks relating to unanticipated operational difficulties; risks relating to adverse weather
conditions; and potential delays to exploration activities.
The forward-looking statements contained herein represent the expectations of the Company as of the date
of dissemination and, accordingly, are subject to change after such date. Readers should not place undue
importance on forward-looking statements and should not rely upon this information as of any other date.
The Company does not undertake to update this information at any particular time except as required in
accordance with applicable laws.
1 – “RUPERT RESOURCES COMPLETES PRE -FEASIBILITY FOR IKKARI CONFIRMING A HIGH -MARGIN
PROJECT NET PRESENT V ALUE OF USD1.7BILLION AND IRR OF 38%”, Rupert Resources news released dated
February 18, 2025, citing Indicated Mineral Resources of 4.1M ounces of gold, or 58.4M tonnes at 2.18 g/t gold.
FireFox cautions that proximity to another gold deposit does not indicate that mineralization will occur on
FireFox’ s property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would
be economically viable.
2 – Thomas, B, and Daffern, T, 2025. Ikkari Prefeasibility Study NI43 -101 Technical Report; Rupert Resources Ltd; WSP
Finland Oy, pages 9 and 44.