/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, April 22, 2021 /CNW/ - FireFox Gold Corp. (TSXV:
FFOX) ("FireFox" or the "Company") is pleased to
announce that, due to strong investor demand, it has increased its
previously announced non-brokered private placement to 16,666,666
units of the Company ("Units") at a price of $0.18 per Unit for gross proceeds of
approximately $3.0 million (the
"Offering"). Each Unit consists of one common share of the
Company ("Common Share") and one-half of one common share
purchase warrant ("Warrant"), with each whole Warrant being
exercisable to acquire one Common Share (a "Warrant Share")
at an exercise price of $0.27 per
Warrant Share for a term of two years following the closing of the
Offering.
FireFox is also pleased to announce that Tin International AG, a
subsidiary of the Duetsche Rohstoff Group, has increased their
previously announced lead order up to 4,444,444 Units or
$800,000. Upon closing of the
Offering, Tin International AG is expected to own approximately
4.5% of the issued and outstanding shares of FireFox.
The proceeds of the Offering will be used for general working
capital and exploration activities on FireFox's gold exploration
properties in Finland. Prior to the Offering, FireFox has
81.8 million Common Shares outstanding, as well as 33.2 million
warrants and 6.6. million options to acquire Common Shares
outstanding.
The Offering is expected to close on or about April 27, 2021. All securities issued pursuant to
the Offering shall be subject to a statutory hold period of four
months plus one day from the date of issuance, in accordance with
applicable securities legislation. For further details
relating to the Offering please refer to the Company's news release
dated April 8, 2021.
THIS NEWS 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.
About FireFox Gold Corp.
FireFox Gold Corp is listed on the TSX Venture stock exchange
under the ticker symbol FFOX. The Company has been exploring for
gold in Finland since 2017 where
it holds a project portfolio that includes over 80,000 hectares 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.sedar.com.
On behalf of the Board of Directors,
"Carl Löfberg"
Chief Executive Officer
Forward-Looking Statements
This press release contains forward-looking information within
the meaning of applicable securities laws. All statements that are
not historical facts, including without limitation, statements
regarding future estimates, plans, programs, forecasts,
projections, objectives, assumptions, expectations or beliefs of
future performance, statements regarding the ability of the Company
to close the Offering, the anticipated terms of the Offering, the
anticipated use of proceeds from the Offering, the anticipated size
of the lead order, and the proposed timing of the Offering are
"forward-looking statements". Forward-looking information can be
identified by the use of words such as "will" or "believe" or
variations of such words or statements that certain actions, events
or results "will" be taken, occur or be achieved. Readers are
cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions
or expectations upon which they are based will occur. By their
nature, forward-looking statements involve numerous assumptions,
known and unknown risks and uncertainties, both general and
specific, that contribute to the possibility that the predictions,
estimates, forecasts, projections and other forward-looking
statements will not occur. These assumptions, risks and
uncertainties include, among other things, the state of the economy
in general and capital markets in particular, and other factors,
many of which are beyond the control of the Company.
Forward-looking statements contained in this press release are
expressly qualified by this cautionary statement. Undue reliance
should not be placed on the forward-looking information because
FireFox can give no assurance that they will prove to be correct.
Important factors that could cause actual results to differ
materially from FireFox's expectations.
The forward-looking statements contained in this press release
are made as of the date of this press release. Except as required
by law, FireFox disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Additionally, FireFox undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of
the matters discussed above.
Neither 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.
SOURCE FireFox Gold Corp.