First Mining Gold Corp. has entered into an agreement with a syndicate of underwriters led by Haywood Securities Inc., ATB Cormark Capital Markets, and National Bank Financial Inc. for a bought-deal offering of common shares to raise aggregate gross proceeds of $50,005,200.

Under the agreement, the underwriters will purchase 59,530,000 common shares of First Mining at a price of $0.84 per common share. The syndicate has also been granted an over-allotment option to purchase up to an additional 15% of the common shares issuable under the offering. This option is exercisable in whole or in part for up to 30 days following the closing date.

The net proceeds from the financing will be allocated to advance First Mining’s Springpole gold project in northwestern Ontario and the Duparquet gold project in Quebec, as well as to fund general working capital and corporate purposes. The Duparquet gold project is a preliminary economic assessment-stage development asset situated on the Destor-Porcupine Fault Zone within Quebec's Abitibi region. First Mining also holds exploration assets in the Birch-Uchi Greenstone Belt in northwestern Ontario, which includes the Birch project located near Springpole.

The common shares will be offered through a prospectus supplement to the company's base shelf prospectus filed across all Canadian provinces and territories, excluding Quebec. The shares may also be offered via private placement in the United States and offshore jurisdictions in accordance with applicable securities laws.

Closing of the financing is anticipated on or about September 24, 2026. The transaction remains subject to customary closing conditions, including the receipt of all necessary regulatory approvals and the approval of the Toronto Stock Exchange.

Read the full announcement: First Mining Announces $50 Million Bought-Deal Offering of Common Shares