Maple Gold Closes $5 Million Private Placement to Advance Québec Projects

Maple Gold Mines Ltd. has announced the successful closure of its brokered private placement offering, raising total gross proceeds of $5 million. The financing included the issuance of 32,695,384 non-flow-through units (“NFT Units”) at $0.065 per unit and 35,935,000 flow-through common shares (“FT Shares”) at $0.08 per share.
Each NFT Unit comprises one common share and one-half of a common share purchase warrant, with each whole warrant exercisable at $0.10 until November 14, 2027. The FT Shares qualify as “flow-through shares” under the Income Tax Act (Canada), allowing subscribers to benefit from related tax advantages.
The offering was led by Beacon Securities Limited, alongside Agentis Capital Markets and Paradigm Capital Inc.
“This successful financing positions Maple Gold to further its exploration efforts in Québec’s Abitibi Greenstone Gold Belt, one of the world’s most prolific gold-producing regions. We’re committed to advancing our Douay and Joutel projects and uncovering the significant untapped potential of this district-scale property,” said Maple Gold’s CEO.
Use of Proceeds
The $5 million raised will be allocated strategically:
• Proceeds from the FT Shares, totalling $2.875 million, will fund exploration activities qualifying as “Canadian exploration expenses” under the Income Tax Act and Québec’s Taxation Act. The funds will support ongoing work at the Douay and Joutel projects, which boast extensive exploration potential and historical mining significance.
• Net proceeds from the NFT Units, approximately $2.125 million, will cover general and administrative expenses and provide working capital for the next 12 months.
All qualifying expenditures will be renounced to subscribers effective December 31, 2024, ensuring tax benefits for investors.
Agent Compensation
As part of the offering, Maple Gold paid $286,798.50 in cash commissions and issued 3,914,723 non-transferable compensation warrants to the agents. Each warrant allows the holder to purchase one common share at $0.065 until November 14, 2027.
The financing is subject to final approval by the TSX Venture Exchange.
Advancing Québec’s Gold Potential
Maple Gold’s Douay and Joutel gold projects, situated in Québec’s Abitibi Greenstone Gold Belt, span approximately 400 km² and offer significant exploration opportunities. The Douay project holds an established gold resource with considerable expansion potential, while the Joutel project features past-producing mines, including Telbel and Eagle West.
With 55 kilometres of strike length along the Casa Berardi Deformation Zone, the projects are poised for new discoveries, including gold and polymetallic mineralization. Maple Gold is focused on exploration and drilling programs to expand resources and establish a premier gold district in the Abitibi.
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