McFarlane Lake Mining Limited has entered into an agreement with a syndicate of underwriters led by ATB Cormark Capital Markets for a bought deal private placement to raise aggregate gross proceeds of C$15,000,585.

The financing comprises two distinct share offerings. The company will issue 20,953,000 flow-through common shares at a price of C$0.525 per share to generate C$11,000,325 in gross proceeds, alongside 10,527,000 hard-dollar common shares priced at C$0.38 per share for C$4,000,260. In addition, the underwriters hold an option to purchase up to an additional 5,921,284 hard-dollar shares at the same issue price, which could provide up to C$2,250,088 in further proceeds if exercised up to 48 hours before the scheduled closing date.

The transaction is conditional on receiving all necessary regulatory and other approvals, with closing scheduled on or about September 9, 2026. Under applicable Canadian exemptions, the shares issued to Canadian resident subscribers will not be subject to a statutory hold period.

McFarlane Lake will allocate an amount equal to the gross proceeds from the flow-through share placement toward eligible Canadian exploration and Ontario exploration expenditures at the Juby Project. These qualifying expenses must be incurred by December 31, 2027, and will be renounced to initial subscribers with an effective date no later than December 31, 2026. Net proceeds from the hard-dollar offering are earmarked for working capital and general corporate purposes.

The Juby Project serves as the company's asset near Gowganda, Ontario, within the southern sector of the Abitibi Greenstone Belt. In addition to Juby, McFarlane Lake holds a portfolio of 100%-owned gold assets across Ontario, including the past-producing McMillan Gold Mine and Mongowin properties located approximately 70 km west of Sudbury and the Michaud/Munro properties located 115 km east of Timmins.

The financing announcement arrives alongside upcoming technical reporting milestones for the asset. A comprehensive technical report detailing the recent mineral resource estimate for the property is scheduled for release within 45 days of its initial August 19, 2026 announcement.

Nearby in the Gowganda district, Transition Metals Corp. expanded its Gowganda gold project in August 2026, staking approximately 18 square kilometres westward toward McFarlane Lake Mining's Juby project.

Read the full announcement: McFarlane Lake Mining Announces C$15 Million Bought Deal Private Placement