Maple Gold completes oversubscribed C$5 million private placement

Maple Gold Mines Ltd. (TSXV: MGM) completed a non-brokered private placement raising approximately C$5 million in gross proceeds, the company announced. The offering was oversubscribed.

The company issued 4,117,647 charity flow-through units at C$0.85 per unit for approximately C$3.5 million and 2,500,000 non-flow-through units at C$0.60 per unit for approximately C$1.5 million, according to the press release.

Strategic investor Michael Gentile now holds approximately 9.9% of the company's outstanding shares on a partially-diluted basis following his participation in the offering. Gentile has joined Maple Gold as a Strategic Advisor. Agnico Eagle Mines Limited maintained its ownership interest at approximately 16.3% on a partially-diluted basis through participation in the offering.

The company plans to use proceeds from the flow-through units for Canadian exploration expenses on its Quebec properties by December 31, 2026. Net proceeds from the non-flow-through units will fund working capital and general corporate purposes.

Each unit includes one share and one warrant exercisable at C$0.85 per share for 36 months. The warrants include an acceleration clause if shares trade at or above C$2.50 for 20 consecutive trading days.

Maple Gold completed a 10-to-1 share consolidation with an effective date of September 8, 2025. The offering remains subject to final acceptance by the TSX Venture Exchange, with securities subject to a four-month hold period.

The company owns the Douay/Joutel Gold Project in Quebec's Abitibi greenstone belt, which contains an established mineral resource of 511,000 ounces of gold (Indicated) and 2.53 million ounces of gold (Inferred).

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