Mayfair Gold Announces Flow-Through Financing
Mayfair Gold Announces Flow-Through Financing
Vancouver, British Columbia, June 9, 2022 – Mayfair Gold Corp. (“ Mayfair” or the “Company”)
(TSX-V: MFG; OTCQB: MFGCF) today announced a strategic financing (the “Offering”) to further the
successful exploration program at the Fenn-Gib gold project in the Timmins region of Ontario.
The Company intends to issue 4,300,000 common shares ($7,009,000) of the Corporation on a flow-
through basis (the “FT Shares”) at a price per share of $1.63 by way of a non-brokered private placement.
The Offering Price represents a premium of 36% over the closing price of Mayfair Gold common shares
on the TSX.V on June 8, 2022.
The gross proceeds from the sale of FT Shares will be used for expenditures which qualify as Canadian
Exploration Expenses (CEE) within the meaning of the Income Tax Act (Canada). The Company will re-
nounce such CEE expenditures with an effective date of no later than December 31, 2022.
The Common Shares issued will be subject to a four month hold period. The Offering is expected to close
on or before June 30, 2022, and is subject to customary closing conditions, including approval from the
TSX.V. A finder’s fee may be paid on a portion of the Offering.
This press release is not an offer of common shares for sale in the United States. The common shares may
not be offered or sold in the United States absent registration or an available exemption from the regis-
tration requirements of the US. Securities Act of 1933, as amended (the "U.S. Securities Act") and appli-
cable U.S. state securities laws. Mayfair will not make any public offering of the securities in the United
States. The common shares have not been and will not be registered under the U.S. Securities Act, or any
state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer
to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
About Mayfair
Mayfair Gold is a Canadian mineral exploration company focused on advancing the 100% con-
trolled Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold de-
posit is Mayfair’s flagship asset and Canada’s first carbon-neutral gold project. An open-pit con-
strained NI 43-101 resource estimate (February 5, 2021) reported a total Indicated Resource of
70.2M tonnes containing 2.08M ounces at a grade of 0.921 g/t Au and an Inferred Resource of
3.8M tonnes containing 75,000 ounces at a grade of 0.618 g/t Au. The deposit has a strike length
of approx. 1.25km with widths ranging up to 300m. The gold mineralized zones remain open at
depth and along strike to the east and west.
For further information contact:
Patrick Evans, President and CEO
Email: [email protected]
Phone: (416) 670-5114
Web: www.mayfairgold.ca
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within
the meaning of Canadian securities legislation (collectively, " forward-looking statements") that
relate to Mayfair’s current expectations and views of future events. Any statements that express,
or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events
or performance (often, but not always, through the use of words or phrases such as "will likely
result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes",
"estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook")
are not historical facts and may be forward-looking statements and may involve estimates,
assumptions and uncertainties which could cause actual results or outcomes to differ materially
from those expressed in such forward-looking statements. No assurance can be given that these
expectations will prove to be correct and such forward-looking statements included in this news
release should not be unduly relied upon. These statements speak only as of the date of this news
release.
Forward-looking statements are based on a number of assumptions and are subject to a number
of risks and uncertainties, many of which are beyond Mayfair’s control, which could cause actual
results and events to differ materially from those that are disclosed in or implied by such forward-
looking statements. Such risks and uncertainties include, but are not limited to, the impact and
progression of the COVID-19 pandemic and other factors. Mayfair undertakes no obligation to
update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by law. New factors emerge from time to time,
and it is not possible for Mayfair to predict all of them, or assess the impact of each such factor
or the extent to which any factor, or combination of factors, may cause results to differ materially
from those contained in any forward-looking statement. Any forward-looking statements
contained in this news release are expressly qualified in their entirety by this cautionary
statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release.