Maple GOLD Closes C$7 Million Bought Deal Financing, Including Full Exercise of the Underwriters’ Option
PRESS RELEASE
December 9, 2021
MAPLE GOLD CLOSES C$7 MILLION BOUGHT DEAL FINANCING, INCLUDING
FULL EXERCISE OF THE UNDERWRITERS’ OPTION
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Vancouver, BC – (Newsfile Corp. – December 9, 2021) - Maple Gold Mines Ltd. (TSX -V:
MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold " or the " Company") is pleased to
announce that further to its news release on November 18, 2021, the Company has completed
a “bought deal” brokered private placement (the "Offering") of 13,020,000 common shares in
the capital of the Company that will qualify as “flow -through shares” (w ithin the meaning of
subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act
(Québec)) (the "FT Shares") at a price of $0.54 per FT Share (the "Issue Price") for gross
proceeds of C$7,030,800 , including 3,720,000 FT Shares issued in connection with the
exercise in full of the underwriters’ option granted to Cormark Securities Inc. and Agentis
Capital Markets Canada LP (together, the "Underwriters") under the Offering.
The Offering received support from new investors as well as existing shareholders, including
Agnico Eagle Mines Limited. Strong demand for the Offering resulted in the full exercise of the
underwriters’ option for additional gross proceeds of over C$2 million.
Matthew Hornor, President and CEO of Maple Gold, commented: “I would like to thank all of
our new and existing shareholders for their strong endorsement of Maple Gold’s district-scale
gold potential and planned exploration activities across our Qu ébec project portfolio. With the
closing of this financing, the Company is heading into the winter exploration season with an
even healthier treasury that will enable us to ramp up drilling throughout 2022, including at our
100%-controlled Eagle Mine Property.”
The gross proceeds from the issuance of the FT Shares will be used to fund Canadian
exploration expenses and will qualify as “flow -through mining expenditures” (within the
meaning of the Income Tax Act (Canada) and the Taxation Act (Québec)) related to the
Company’s projects in Québec on or prior to December 31, 2022 for renunciation to
subscribers of FT Shares effective December 31, 2021.
The Underwriters received a cash commission (the "Underwriting Fee") equal to 6% of the
gross proceeds of the Offering, other than in respect of FT Shares sold to certain president’ s
list subscribers, in which case the Underwriting Fee was reduced to 3%.
The Offering remains subject to final acceptance by the TSX Venture Exchange. All securities
issued under the Offering will be subject to a hold period expiring four months and one day
from the date hereof. The securities offered have not been, nor will they be, registered
under the United States Securities Act of 1933, as amended, or any state securities law,
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and may not be offered, sold or delivered, directly or indirectly, within the United States,
or to or for the account or benefit of U.S. persons, absent registration or an exemption
from such registration requirements. This news re lease does not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of securities in any
state in the United States in which such offer, solicitation or sale would be unlawful.
About Maple Gold
Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture
with Agnico Eagle Mines Limited to jointly advance the district -scale Douay and Joutel gold
projects located in Quebec’s prolific Abitibi Greenstone Gold Belt. The project s benefit from
exceptional infrastructure access and boast ~400 km 2 of highly prospective ground including
an established gold resource at Douay (RPA 2019) that holds significant expansion potential
as well as the past -producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the
Company holds an exclusive option to acquire 100% of the Eagle Mine Property.
The district-scale property package also hosts a significant number of regional exploration
targets along a 55 km strike length of the Casa Be rardi Deformation Zone that have yet to be
tested through drilling, making the project ripe for new gold and polymetallic discoveries. The
Company is well capitalized and is currently focused on carrying out exploration and drill
programs to grow resources and make new discoveries to establish an exciting new gold
district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
"Matthew Hornor"
B. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
Executive Vice-President
Cell: 778.686.6836
Email: [email protected]
Mr. Kiran Patankar
SVP, Growth Strategy
Cell: 604.935.9577
Email: [email protected]
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 PRESS RELEASE.
Forward Looking Statements:
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This press release contains "forward -looking information" and "forward -looking statements" (collectively referred to as
"forward-looking statements") within the meaning of applicable Canadian securities legislation in Canada, including statements
about the use of pr oceeds, tax treatment of the FT Shares, the renouncement of the flow-through mining expenditures,
exploration work and results from current and future work programs. Forward-looking statements are based on assumptions,
uncertainties and management's best estimate of future events. Actual events or results could differ materially from the
Company's expectations and projections. Investors are cautioned that forward -looking statements involve risks and
uncertainties. Accordingly, readers sho uld not place undue reliance on forward -looking statements. For a more detailed
discussion of such risks and other factors that could cause actual results to differ materially from those expressed or impli ed
by such forward-looking statements, refer to Maple Gold Mines Ltd.'s filings with Canadian securities regulators available on
www.sedar.com or the Company 's website at www.maplegoldmines.com . The Company does not intend, and expressly
disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.