FireFox Gold (FFOX.V) has upsized its previously announced private placement to around 11.8 million units at a price of $0.60 each for aggregate gross proceeds of up to $7.1 million, the company said on Friday.
The company earlier on May 15 had announced a non-brokered private placement of up to 8.5 million units at a price of $0.60 each for aggregate gross proceeds of up to $5.1 million.
Each unit is comprised of one common share and one half of one common share purchase warrant, said the company and added that each warrant will be exercisable for one common share at an exercise price of $0.90 and will expire three years from the closing date of the offering.
It is expected that certain insiders of the company, including certain directors, will participate in the offering.
The net proceeds of the offering are expected to fund a significant drill program at the Mustajarvi Project, as well as a return to drilling at the Sarvi project along with other exploration work, working capital and general corporate purposes.
The offering is expected to close on or about June 9, 2026, subject to certain conditions.