McFarlane Lake Announces Closing of Final Tranche of Upsized $1.3 Million Private Placement Offering
McFarlane Lake Mining (MLMLF) has successfully closed the final tranche of its upsized private placement offering, raising a total of $1.3 million. The final tranche consisted of 2,800,000 units at $0.05 per unit and 700,000 flow-through shares at $0.07 per share, generating approximately $189,000.
The company issued a total of 25,120,000 units and 700,000 flow-through shares through the offering. Each unit includes one common share and half a warrant, with warrants exercisable at $0.07 per share until October 10, 2025.
The proceeds will primarily fund exploration activities at the company's Canadian properties, focusing on the McMillan Property, while supporting ongoing exploration at West Hawk Lake and High Lake Properties. The company is currently conducting drill testing of geophysical anomalies at the McMillan Mine site, with additional drilling results expected in the coming weeks.
McFarlane Lake Mining (MLMLF) ha chiuso con successo l'ultima tranche della sua offerta di collocamento privato aumentato, raccogliendo un totale di 1,3 milioni di dollari. L'ultima tranche consisteva in 2.800.000 unit脿 a 0,05 dollari per unit脿 e 700.000 azioni flow-through a 0,07 dollari per azione, generando circa 189.000 dollari.
L'azienda ha emesso un totale di 25.120.000 unit脿 e 700.000 azioni flow-through attraverso l'offerta. Ogni unit脿 include un'azione ordinaria e met脿 di un warrant, con warrants esercitabili a 0,07 dollari per azione fino al 10 ottobre 2025.
Il ricavato finanzier脿 principalmente le attivit脿 di esplorazione nei beni canadesi dell'azienda, concentrandosi sulla McMillan Property, supportando nel contempo l'esplorazione in corso presso le propriet脿 di West Hawk Lake e High Lake. L'azienda sta attualmente conducendo test di perforazione su anomalie geofisiche presso il sito della McMillan Mine, con ulteriori risultati di perforazione attesi nelle prossime settimane.
McFarlane Lake Mining (MLMLF) ha cerrado con 茅xito la 煤ltima tranche de su oferta de colocaci贸n privada ampliada, recaudando un total de 1.3 millones de d贸lares. La 煤ltima tranche consisti贸 en 2,800,000 unidades a 0.05 d贸lares por unidad y 700,000 acciones flow-through a 0.07 d贸lares por acci贸n, generando aproximadamente 189,000 d贸lares.
La empresa emiti贸 un total de 25,120,000 unidades y 700,000 acciones flow-through a trav茅s de la oferta. Cada unidad incluye una acci贸n ordinaria y medio warrant, con warrants ejercitables a 0.07 d贸lares por acci贸n hasta el 10 de octubre de 2025.
Los ingresos financiar谩n principalmente las actividades de exploraci贸n en los activos canadienses de la empresa, centr谩ndose en la McMillan Property, mientras se apoya la exploraci贸n en curso en las propiedades de West Hawk Lake y High Lake. La empresa est谩 llevando a cabo pruebas de perforaci贸n de anomal铆as geof铆sicas en el sitio de la McMillan Mine, con resultados adicionales de perforaci贸n esperados en las pr贸ximas semanas.
毵ロ寯霠堨澑 霠堨澊韥� 毵堨澊雼� (MLMLF)鞚� 頇曤寑霅� 靷 氚办爼鞚� 毵堨毵� 攵勴暊鞚� 靹标车鞝侅溂搿� 毵堦皭頃橂┌ 齑� 130毵� 雼煬毳� 氇笀頄堨姷雼堧嫟. 毵堨毵� 攵勴暊鞚� 1雼渼雼� 0.05雼煬鞐� 2,800,000雼渼鞕� 1欤茧嫻 0.07雼煬鞐� 700,000臧滌潣 頋愲欤检嫕鞙茧 甑劚霅橃柎 鞎� 189,000雼煬毳� 靸濎劚頄堨姷雼堧嫟.
須岇偓電� 鞚措矆 瓿惦毳� 韱淀暣 齑� 25,120,000雼渼鞕� 700,000臧滌潣 頋愲欤检嫕鞚� 氚滍枆頄堨姷雼堧嫟. 臧� 雼渼鞐愲姅 1臧滌潣 氤错喌欤检檧 氚� 臧滌潣 鞗岆煱韸戈皜 韽暔霅橃柎 鞛堨溂氅�, 鞗岆煱韸鸽姅 2025雲� 10鞗� 10鞚缄箤歆� 欤茧嫻 0.07雼煬鞐� 頄夓偓 臧�電ロ暕雼堧嫟.
氇笀霅� 鞛愱笀鞚� 欤茧 須岇偓鞚� 旌愲倶雼� 鞛愳偘鞐愳劀 韮愳偓 頇滊彊鞚� 歆�鞗愴晿電� 雿� 靷毄霅橂┌, 毵ル皜霝� 鞛愳偘鞐� 欷戩爯鞚� 霊愱碃, 鞗姢韸� 順疙伂 霠堨澊韥� 氚� 頃橃澊 霠堨澊韥� 鞛愳偘鞚� 歆�靻嶌爜鞚� 韮愳偓毳� 歆�鞗愴暕雼堧嫟. 須岇偓電� 順勳灛 毵ル皜霝� 甏戩偘 順勳灔鞐愳劀 歆�甑毽暀鞝� 鞚挫儊鞐� 雽�頃� 鞁滌稊 韰岇姢韸鸽ゼ 靾橅枆 欷戩澊氅�, 頄ロ泟 氇� 欤� 鞎堨棎 於旉皜鞝侅澑 鞁滌稊 瓴瓣臣臧� 旮半寑霅╇媹雼�.
McFarlane Lake Mining (MLMLF) a r茅ussi 脿 cl么turer la derni猫re tranche de son offre de placement priv茅 茅largie, levant un total de 1,3 million de dollars. La derni猫re tranche 茅tait compos茅e de 2 800 000 unit茅s 脿 0,05 dollar par unit茅 et de 700 000 actions flow-through 脿 0,07 dollar par action, g茅n茅rant environ 189 000 dollars.
L'entreprise a 茅mis un total de 25 120 000 unit茅s et 700 000 actions flow-through 脿 travers cette offre. Chaque unit茅 comprend une action ordinaire et une demi-option, avec des options exer莽ables 脿 0,07 dollar par action jusqu'au 10 octobre 2025.
Les recettes serviront principalement 脿 financer les activit茅s d'exploration des propri茅t茅s canadiennes de l'entreprise, en se concentrant sur la McMillan Property, tout en soutenant l'exploration en cours sur les propri茅t茅s de West Hawk Lake et High Lake. L'entreprise effectue actuellement des tests de forage sur des anomalies g茅ophysiques sur le site de la McMillan Mine, avec des r茅sultats de forage suppl茅mentaires attendus dans les semaines 脿 venir.
McFarlane Lake Mining (MLMLF) hat erfolgreich die letzte Tranche seines erweiterten Privatplatzierungsangebots abgeschlossen und insgesamt 1,3 Millionen Dollar gesammelt. Die letzte Tranche bestand aus 2.800.000 Einheiten zu je 0,05 Dollar pro Einheit und 700.000 Flow-Through-Aktien zu je 0,07 Dollar pro Aktie, was etwa 189.000 Dollar einbrachte.
Das Unternehmen hat insgesamt 25.120.000 Einheiten und 700.000 Flow-Through-Aktien 眉ber das Angebot ausgegeben. Jede Einheit umfasst eine Stammaktie und eine halbe Warrant, wobei die Warrants bis zum 10. Oktober 2025 zu 0,07 Dollar pro Aktie ausge眉bt werden k枚nnen.
Die Erl枚se werden haupts盲chlich die Explorationsaktivit盲ten in den kanadischen Liegenschaften des Unternehmens finanzieren, wobei der Fokus auf der McMillan Property liegt, w盲hrend die laufende Exploration in den Liegenschaften West Hawk Lake und High Lake unterst眉tzt wird. Das Unternehmen f眉hrt derzeit Bohrtests von geophysikalischen Anomalien am Standort der McMillan Mine durch, wobei in den kommenden Wochen mit weiteren Bohrergebnissen gerechnet wird.
- Successfully raised $1.3 million, exceeding initial $1 million target
- Ongoing exploration drilling at McMillan Mine site showing encouraging results
- No resale restrictions on securities for Canadian residents
- Insider participation indicates external investor interest ($5,000 worth of units)
- Significant share dilution through issuance of 25.82 million new shares
TORONTO, ON / / April 10, 2025 / McFarlane Lake Mining Limited (Cboe Canada:MLM)(OTCQB:MLMLF) ("McFarlane Lake" or the "Company"), a Canadian gold exploration and development company, is pleased to announce that on Thursday, April 10, 2025, it closed the final tranche (the "Final Tranche") of its previously announced non-brokered private placement offering of units (the "Units") and flow-through shares (the "FT Shares", and together with the Units, the "Securities") of the Company (the "Offering"). The Offering, initially permitting the issuance and sale of up to 20,000,000 Units and up to 14,285,714 FT Shares, was previously upsized to up to 26,000,000 Units and up to 18,571,428 FT Shares. Following this upsize, the Company closed the first tranche of the Offering on March 18, 2025. On April 9, 2025, the Company filed a second amended and restated offering document pursuant to the LIFE (as defined below) to further increase the maximum size of the Offering in order to accommodate additional investors. The Final Tranche consisted of 2,800,000 Units at a price of
"We are very pleased with this financing round, raising well above our initial target of
Each Unit consisted of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each, whole warrant a "Warrant"). Each Warrant granted in the Final Tranche is exercisable by the holder to acquire one Common Share at a price of
The Securities were offered for sale by way of the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE") to purchasers in all the provinces of Canada, except Québec, and in other qualifying jurisdictions. The Common Shares and Warrants issued to Canadian residents in connection with the Offering are not subject to resale restrictions pursuant to applicable Canadian securities laws or the policies of Cboe Canada Inc. ("Cboe").
The net proceeds raised from the issuance of the Units will be primarily allocated to exploration activities on the Company's Canadian properties, with a focus on the McMillan Property, while also supporting ongoing exploration at the West Hawk Lake Property and High Lake Property.
The gross proceeds received by the Company from the sale of the FT Shares will be used to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Tax Act (the "Qualifying Expenditures"). All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2025.
The Offering remains subject to final acceptance by Cboe and all regulatory approvals.
Related Party Disclosure
An insider of the Company subscribed for approximately
About McFarlane Lake Mining
McFarlane Lake is a gold exploration company focused on the exploration and development of its portfolio of properties. The past producing McMillan and Mongowin gold properties, located 70 km west of Sudbury, Ontario, the past producing West Hawk Lake property located immediately west of the Ontario-Manitoba border, and the High Lake gold property located immediately east of the Ontario-Manitoba border and 8 km from the West Hawk Lake property. McFarlane Lake also owns the Michaud/Munro mineral property situated 115 km east of Timmins along the so-called "Golden Highway". McFarlane Lake is a "reporting issuer" under applicable securities legislation in the provinces of, British Columbia, Alberta and Ontario.
To learn more, visit:
Additional information on McFarlane Lake can be found by reviewing its profile on SEDAR+ at .
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation, including but not limited to the proposed use of proceeds of the Offering and final approval of Cboe for the Offering. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of McFarlane Lake to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks Factors" in the Company's Annual Information Form dated as of November 27, 2024, which is available for view on SEDAR+ at
Forward-looking statements contained herein are made as of the date of this press release and McFarlane Lake disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise.
There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Further Information
For further information regarding McFarlane Lake, please contact:
Mark Trevisiol,
Chief Executive Officer, President and Director
McFarlane Lake Mining Limited
[email protected]
SOURCE: McFarlane Lake Mining Limited
View the original on ACCESS Newswire
FAQ
How much did McFarlane Lake Mining (MLMLF) raise in their latest private placement?
What are the terms of the warrants issued in MLMLF's final tranche?
How will MLMLF use the proceeds from the private placement?
What was the pricing structure for MLMLF's private placement offering?
