Maple Gold Mines Raises $5.6M for Québec Exploration

Maple Gold Mines Ltd. has announced the closing of its Concurrent Private Placement, raising an additional C$635,255 through the issuance of 9,773,154 non-flow-through units (NFT Units) at $0.065 per unit. This brings the total raised from its fully subscribed offering of NFT Units and flow-through shares to approximately C$5,635,255.
“We are grateful for the support of our new and existing shareholders and institutional funds in our recent financing efforts,” said Kiran Patankar, President and CEO of Maple Gold. “The company is heading into the winter exploration season with an even healthier treasury to support aggressive resource expansion and de-risking of our Douay gold project, systematic testing of our high-grade Joutel gold project, and the potential to make new discoveries across our under-explored Québec property portfolio.”
Each NFT Unit includes one common share and one-half of a warrant. Each whole warrant allows the holder to purchase an additional common share at $0.10 until November 14, 2027. The funds raised will be allocated to exploration in Québec and general corporate purposes over the next 12 months.
Beacon Securities Limited acted as lead agent and bookrunner, alongside Agentis Capital Markets and Paradigm Capital. As compensation, the agents will receive $14,342.10 and 220,647 non-transferable compensation warrants exercisable at $0.065 until November 19, 2027.
Insiders acquired 1,649,000 NFT Units in this offering, a transaction exempt from formal valuation and minority shareholder approval under Multilateral Instrument 61-101 due to its proportionate value.
The offering remains subject to final TSX Venture Exchange approval. Securities issued under the offering are subject to a four-month hold period expiring on March 20, 2025.
About Maple Gold Mines
Maple Gold is advancing its Douay and Joutel gold projects within Québec’s Abitibi Greenstone Belt. The properties, spanning 400 km², include an established gold resource at Douay, the historical Joutel mining complex, and numerous untapped regional exploration targets along a 55-km strike length. Focused on resource expansion and new discoveries, Maple Gold aims to establish a thriving gold district in one of Canada’s most prolific mining regions.
Tags: Quebec / Exploration / Gold / All Articles