VANCOUVER, Canada, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Fury Gold Mines Limited (TSX:FURY, NYSE:FURY) ("Fury" or the "Company") is pleased to announce the closing of its previously announced brokered private placement of (i) 9,915,000 flow-through units sold to charity purchasers (the "Charity FT Units") at a price per Charity FT Unit of C$1.21; and (ii) 6,003,000 flow-through shares (the "FT Shares") at a price per FT Share of C$1.00, for total aggregate gross proceeds of C$18,000,150 (the "Offering"). The Charity FT Units are comprised of (i) one "flow-through" share (each, a "Charity FT Share"), and (ii) one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one non-flow through common share (a "Warrant Share") at a price of $1.20 per Warrant Share for a period of 24 months from the date of the closing of the Offering. The Charity FT Units and FT Shares qualify as "flow-through shares" as defined under subsection 66(15) of the Income Tax Act (Canada). The Warrant Shares do not qualify as "flow-through shares".
The Offering was conducted by a syndicate of agents led by Haywood Securities Inc. and including BMO Capital Markets, H.C. Wainwright & Co., LLC, Beacon Securities Limited and Velocity Trade Capital Ltd. (collectively, the "Agents").
The gross proceeds of the Offering will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada), (the "Qualifying Expenditures") related to the Company's projects in Québec and Nunavut on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the purchasers of the Charity FT Units and FT Shares effective date of no later than December 31, 2025. The exploration expenditures to be incurred will include expenditures in connection with the exploration of the Company's Eau Claire and Committee ...
