VANCOUVER, BC, May 7, 2024
/CNW/ - First Mining Gold Corp. ("First Mining") announces
today that on May 6, 2024, it
disposed of 4,539,000 common shares of Treasury Metals Inc. (TSX:
TML) ("Treasury") at a price of $0.22 per share for gross proceeds of
approximately $1.0 million through
the facilities of the Toronto Stock Exchange (the
"Transaction").
Immediately prior to the Transaction, First Mining owned
20,000,311 common shares of Treasury, representing approximately
10.69% of the issued and outstanding common shares of Treasury
(calculated on a non-diluted basis). Immediately following the
Transaction, First Mining held beneficial ownership of, or control
and direction over, an aggregate of 15,461,311 common shares of
Treasury, representing approximately 8.26% of the issued and
outstanding common shares of Treasury (calculated on a non-diluted
basis). Accordingly, First Mining is no longer a "reporting
insider" of Treasury, as such term is defined under applicable
securities laws, as First Mining has fallen below the 10% reporting
threshold.
In the future, First Mining may acquire additional securities of
Treasury or dispose of such securities subject to a number of
factors, including general market and economic conditions and other
available investment and business opportunities.
This press release is being issued pursuant to National
Instrument 62-103 – The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues, which also requires
a report to be filed in accordance with applicable securities laws
(the "Early Warning Report"). A copy of the Early Warning
Report will be available under First Mining's and Treasury's
profiles on SEDAR+ at www.sedarplus.ca.
About Treasury Metals
Inc.
Treasury was incorporated under the laws of the Province of
Ontario. Treasury's head office is
located at 15 Toronto St., Suite 401, Toronto, Ontario, M5C 2E3, Canada. Treasury's common shares are traded on
the Toronto Stock Exchange.
About First Mining Gold
Corp.
First Mining is a Canadian mineral exploration and development
company incorporated under the laws of the Province of British Columbia. First Mining's head office
is located at Suite 2070 - 1188 West Georgia Street, Vancouver, British Columbia, V6E 4A2.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/early-warning-press-release-in-respect-of-disposition-of-common-shares-of-treasury-metals-inc-302137493.html
SOURCE First Mining Gold Corp.