FireFox Gold raises $7 million in private placement, completes consolidation

FireFox Gold Corp. (TSXV:FFOX)(OTCQB: FFOXF) completed a $7 million non-brokered private placement and a 10-for-1 share consolidation effective August 15, 2025, according to a company statement.

The company issued 175 million units at $0.04 per unit on a pre-consolidation basis. Each unit includes one common share and one warrant exercisable at $0.06 per share for three years. Following the consolidation, the company has 38.3 million shares outstanding, with consolidated shares trading on the TSX Venture Exchange at $0.55 per share.

FireFox intends to use the proceeds for mineral exploration at its Mustajärvi, Jeesiö, and Sarvi projects in northern Finland and for general working capital.

Insiders purchased approximately 22% of the offering. Agnico Eagle Mines Limited exercised participation rights and acquired 19 million units. Directors and officers purchased 1.4 million units, while other insiders Crescat Portfolio Management LLC and Concept Capital Corp. also participated. New investors accounted for 78% of the placement.

The insider participation constitutes a related party transaction under regulatory guidelines. The company relied on exemptions as the insider portion represented less than 25% of market capitalization.

The company will pay finder fees totaling $102,046 in cash, along with shares and warrants to qualified finders. All shares issued carry a four-month statutory hold period.

FireFox Gold has been exploring for gold in Finland since 2017 and maintains a portfolio of prospective ground in the country.

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