McFarlane Lake closes final tranche of placement

Executive Summary

• McFarlane Lake Mining Ltd. closed the final tranche of its non‑brokered private placement, issuing 5,829,998 units at C$0.15 each for gross proceeds of approximately $874,500.
• The total financing to date amounts to $9,335,500 from 61,936,665 units and 300,000 flow‑through shares.
• Proceeds will be used for general working capital and corporate purposes to advance the Juby gold project.

Key Details

• Units Issued (Final Tranche): 5,829,998 units @ C$0.15 per unit → ≈ $874,500 gross proceeds.
• Total Offering Size: $9,335,500 raised from 61,936,665 units and 300,000 FT shares.
• Unit Composition: Each unit = 1 common share + ½ common‑share purchase warrant.
• Warrant Terms (Final Tranche): Exercise price C$0.25 per share; exercisable starting 60 days after closing until Oct 9 2028.
• Pricing: Both units and FT shares priced at C$0.15 per unit/FT share.
• Use of Proceeds: General working capital and other corporate purposes as outlined in the offering document.
• Finder’s Fees: Up to 8% of gross proceeds paid to eligible finders (reduced to 2% for “president’s list” investors).
• Related‑Party Participation: Insiders subscribed for ~C$190,000 worth of units; disclosed as related‑party transactions under MI 61‑101. No change of control resulted.
• Regulatory Exemptions: Offering relied on the Listed Issuer Financing Exemption (LIFE) and Coordinated Blanket Order 45‑935; no hold period for Canadian subscribers.

Notable Quotes

“We are very pleased by the support investors have showed both in this equity raise and in the $15‑million debt security we closed last week. It is now up to management to move the Juby gold project forward adding value by increasing its gold resources and marketing this exciting project across the gold investment community.” – Mark Trevisiol, CEO & Chairman

Materiality Assessment: Material – Positive (significant equity financing that supports ongoing exploration and development activities).