McFarlane Lake Mining Limited has completed its oversubscribed bought deal private placement, securing aggregate gross proceeds of $17,250,618. The financing was upsized from an initial $15 million base offering following the full exercise of an underwriter option by a syndicate led by ATB Cormark Capital Markets alongside Integrity Capital Group Inc. and Canaccord Genuity Corp.

The offering delivered 25,715,000 flow-through shares priced at $0.525 per share for gross proceeds of $12,500,383, combined with 15,790,200 hard-dollar common shares priced at $0.38 per share for gross proceeds of $5,750,235. The underwriters received a cash commission equal to 6.0% of gross proceeds. Insiders subscribed for 2,982,058 hard-dollar shares, representing approximately $1,133,182 or 6.6% of the financing.

The proceeds shift capital directly into the company's operating pipeline. McFarlane Lake will allocate an amount equal to the gross proceeds from the flow-through shares to incur eligible Canadian exploration and Ontario exploration expenditures at its flagship Juby Gold Project near Gowganda, Ontario. The hard-dollar net proceeds are earmarked for working capital and general corporate purposes.

“We are very pleased to have closed this oversubscribed Offering, which reflects strong investor confidence in McFarlane Lake,” said Mark Trevisiol, President and Chief Executive Officer of McFarlane Lake. “These proceeds position us to advance exploration at our flagship Juby Gold Project. We thank all of our stakeholders for their support, which enables us to further expand our gold resources and advance the development of the Juby Gold Project.”

— Mark Trevisiol, President and Chief Executive Officer of McFarlane Lake

The financing adds to an active period of corporate and operational maneuvering for the company. McFarlane Lake originally acquired the Juby property and an interest in the Knight Properties from Aris Mining Holdings Corp. under an asset purchase agreement in July 2025. Following that acquisition, the company submitted an exploration permit application for up to 10,000 metres of drilling and initiated an environmental baseline study at the site in October 2025. The capital structure was further reinforced in June 2026 when McFarlane closed a $6.75 million non-brokered private placement led by strategic investors Michael Gentile and Pierre Beaudoin to fund exploration and pay down debentures.

Activity across the immediate Gowganda area has also drawn attention to regional holdings. For instance, Transition Metals Corp. expanded its land position by staking approximately 18 square kilometres westward toward McFarlane Lake's Juby project, placing the company within an active regional exploration corridor.

Read the full announcement: McFarlane Lake Mining Closes $17.25 Million Bought Deal Private Placement