Fury Announces C$2.5 Million Financing
Fury Announces C$2.5 Million Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, June 05, 2025 -- Fury Gold Mines Limited (TSX and NYSE American: FURY) (“Fury” or the “Company”)
intends to privately place with a small group of accredited and institutional investors in Canada up to 3,246,753 common
shares (the “Shares”) of the Company, at a price of C$0.77 per Share for total gross proceeds of C$2,500,000 (the “Offering”).
Each Share will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada), but
will in all other respects be an ordinary Fury common share. The gross proceeds from the sale of the Shares will be used to
incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as such terms are defined in
the Income Tax Act (Canada) at the Company’s projects in Québec and Nunavut. The Company will renounce such qualifying
expenditures with an effective date of no later than December 31, 2025, in an amount of not less than the total amount of the
gross proceeds raised from the issuance of Shares, and incur such expenses by December 31, 2026.
The Offering is expected to close on or about June 19, 2025 (the “ Closing Date ”), subject to execution of subscription
agreements and customary closing conditions, including receipt of all necessary approvals, including the approval of the
Toronto Stock Exchange (“TSX”) and the NYSE American LLC. Although the Offering is not brokered, the Company may pay
finder’s fees of up to 6% from its current working capital for assistance with this financing to persons eligible to receive such
fees. All Shares issued pursuant to the Offering will be subject to a statutory hold period of four months and a day from the
Closing Date in accordance with applicable Canadian securities laws.
The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state
securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States
persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and
applicable U.S. state securities laws. This news release is not an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Fury Gold Mines Limited
Fury Gold Mines Limited is a well-financed Canadian-focused exploration company positioned in two prolific mining regions
across Canada and holds a 11.8 million common share position in Dolly Varden Silver Corp (approximately 14.5% of issued
shares). Led by a management team and board of directors with proven success in financing and advancing exploration
assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration
excellence. Fury is committed to upholding the highest industry standards for corporate governance, environmental
stewardship, community engagement and sustainable mining. For more information on Fury Gold Mines, visit
www.furygoldmines.com.
For further information on Fury Gold Mines Limited, please contact:
Margaux Villalpando, Manager Investor Relations
Tel: (844) 601-0841
Email: [email protected]
Website: www.furygoldmines.com
Neither the TSX nor its Regulations Services Provider (as that term is defined in the policies of the TSX) accepts responsibility
for the adequacy or accuracy of this news release.
Forward-Looking Statements and Additional Cautionary Language
This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Any
statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as
"believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts",
"targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may",
"could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical
fact and may be forward-looking statements.
Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments
that Fury expects or anticipates will or may occur in the future including the Closing Date of the Offering, proposed use of
proceeds of the Offering and the tax treatment of the Shares. Although Fury has attempted to identify important factors that
could cause actual actions, events or results to differ materially from those described in forward-looking information including
the speculative nature of mineral exploration and development, fluctuating commodity prices, the future tax treatment of the
Shares, the risks and uncertainties related to the Offering not being completed in the event that the conditions precedent
thereto (including receipt of requisite regulatory approvals) are not satisfied; uncertainties related to raising sufficient financing
in a timely manner and on acceptable terms; and other risks and uncertainties disclosed in our recent securities filings
available at www.sedarplus.ca.
There may also be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking
information. Fury does not undertake to update any forward-looking information except in accordance with applicable securities
laws.