Fury Announces Closing of C$18 Million Brokered Financing

Executive Summary

• Fury Gold Mines closed a brokered private placement raising C$18,000,150 through 9,915,000 charity flow‑through units and 6,003,000 flow‑through shares.
• Proceeds will be used to fund eligible Canadian exploration expenses on the Eau Claire and Committee Bay projects in Québec and Nunavut, with expenditures to be renounced by Dec 31 2025.
• The offering was led by Haywood Securities and a syndicate of agents; agents received cash compensation equal to 6.0% of gross proceeds.

Key Details

• Units Sold: 9,915,000 charity flow‑through units at C$1.21 per unit.
• Shares Sold: 6,003,000 flow‑through shares at C$1.00 per share.
• Total Gross Proceeds: C$18,000,150.
• Charity FT Unit Composition: One charity flow‑through share plus one‑half of a common share purchase warrant; each warrant allows purchase of one non‑flow‑through common share at $1.20 for 24 months from closing.
• Use of Proceeds: To incur eligible Canadian exploration expenses (flow‑through mining expenditures) on the Eau Claire and Committee Bay projects, to be completed by Dec 31 2026; all qualifying expenditures will be renounced in favor of purchasers no later than Dec 31 2025.
• Syndicate Lead Agents: Haywood Securities Inc.; also BMO Capital Markets, H.C. Wainwright & Co., LLC, Beacon Securities Limited, Velocity Trade Capital Ltd.
• Agent Compensation: Cash fee equal to 6.0% of gross proceeds.
• Insider Participation: An insider purchased 10,000 flow‑through shares; transaction qualifies as a related‑party transaction under MI 61‑101 and is exempt from formal valuation and minority shareholder approval requirements because the fair market value does not exceed 25 % of market capitalization.
• Regulatory Exemptions: Offering relied on listed issuer financing exemption under NI 45‑106 (Part 5A) and related blanket order; securities are not registered in the United States and may not be offered or sold there.

Notable Quotes

(No direct quotes were provided in the release.)