• Fury Gold Mines (FURY) has signed an agreement to sell $7 million of its shares to a group of underwriters led by Haywood Securities
  • The company will issue roughly 4.86 million flow-through (FT) common shares on a bought deal private placement basis
  • Fury also agreed to give the underwriters the option to purchase an extra $1.05 million in FT shares
  • Proceeds will be used for eligible Canadian exploration expenses
  • The offering is expected to close by March 23
  • Fury Gold Mines (FURY) is down 9.89 per cent, trading at $0.82 per share as of 12:02 p.m. EST

Fury Gold Mines (FURY) has agreed to sell $7 million of its shares to a group of underwriters led by Haywood Securities.

The company will issue roughly 4.86 million flow-through (FT) common shares at $1.44 per share.

Fury has agreed to offer the underwriters an option to purchase up to an extra $1.05 million worth of FT shares for the same issue price.

The company will use the total proceeds for eligible Canadian exploration expenses that qualify as flow-through mining expenditures. Such expenditures include exploration work on of the company’s Eau Claire and Éléonore South joint venture projects in Quebec.

The offering is expected to close by March 23. The company has agreed to pay the underwriters a cash commission of up to 6.00 per cent of the gross proceeds raised under the offering.

Fury is a Canadian exploration company working in two major mining regions across the country. Additionally, it holds a 23.50 per cent interest in Dolly Varden Silver. Fury shared it intends to grow its multi-million-ounce gold platform through ongoing project evaluation and exploration.

Fury Gold Mines (FURY) is down 9.89 per cent, trading at $0.82 per share as of 12:02 p.m. EST.


More From The Market Online

Myriad Uranium secures mining lease at Copper Mountain

Myriad Uranium (CSE:M) has entered into a 20-year mining lease with Diamond X Ranch for the Copper Mountain Uranium Project.

Eric Sprott tops up investment in gold stock Rio2

Eric Sprott adds C$2,000,115 to his position in Rio2 (TSXV:RIO), a junior mining stock developing its Fenix gold project in Chile.
AbraSilver - Mining operations at AbraSilver's Diablillos project in Argentina.

Kinross Gold invests C$10M into AbraSilver

AbraSilver Resource (TSXV:ABRA) signs C$20 million in agreements for a non-brokered private placement with Kinross Gold and Central Puerto.

Mink Ventures acquires claims next to Warren North

Mink Ventures (TSXV:MINK) acquires 100 per cent interest in six mining claims adjacent to its Warren North claims in Ontario.