First Mining Increases Private Placement From $16 Million To $27 Million
July 21st, 2016
VANCOUVER, BC, CANADA – First Mining Finance Corp. (“First Mining” or the “Company”)
is pleased to announce that, due to significant interest from
investors, including institutional investors, the Company has decided to
increase its previously announced non-brokered private placement
financing to 33,750,000 units (“Units”) at a price of $0.80 per unit to raise gross proceeds of up to $27,000,000 (the “Private Placement”).
Each Unit will still consist of one common share of First Mining and
one-half of a common share purchase warrant, with each whole warrant
entitling the holder to purchase one additional common share of First
Mining at $1.10 for a period of 36 months from the date of closing of
the Private Placement.
Keith Neumeyer, Chairman of First Mining, states: “We have received
an incredible level of interest in our financing, and as a result, we
have decided to increase the size of the financing to cater to orders
from institutional and other investors. The response to our financing
has been overwhelming, and even with this increase, we are still not
able to accommodate all of the orders and interest from investors.”
Completion of the Private Placement remains subject to the approval
of the TSX Venture Exchange. All securities issued in connection with
the Private Placement will be subject to a statutory hold period of four
months and one day from the date of closing of the Private Placement.
The Company intends to use the proceeds of the Private Placement for
potential future property acquisitions, economic studies and resource
estimates on the Company’s current projects, and for general working
capital and corporate purposes.
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.
Viele Grüße
Silberstaub
(Ich mach jetzt meine Sommerpause)