McFarlane Lake Announces Closing of Final Tranche Of $9.34 Million Equity Financing

Executive Summary

• McFarlane Lake Mining Limited closed the final tranche of its non‑brokered private placement, issuing 5,829,998 Units at $0.15 per Unit for gross proceeds of approximately $874,500.
• Total capital raised to date from the offering is $9,335,500, comprising 61,936,665 Units and 300,000 flow‑through shares.
• Proceeds will be used for general working capital and other corporate purposes; each Unit includes one common share and a half‑share purchase warrant exercisable at $0.25 per share until October 9 2028.

Key Details

• Final Tranche Issuance: 5,829,998 Units @ $0.15/unit → $874,500 gross proceeds.
• Overall Offering Size: 61,936,665 Units + 300,000 FT Shares → $9,335,500 total gross proceeds.
• Unit Composition: 1 common share + ½ common‑share purchase warrant (full warrant = right to acquire one common share at $0.25).
• Warrant Terms: Exercisable any time from 60 days post‑closing until October 9 2028 at an exercise price of $0.25 per share.
• FT Shares: No flow‑through shares were issued in the final tranche; earlier tranche included 300,000 FT Shares.
• Use of Proceeds: General working capital and other corporate purposes as described in the offering documents (SEDAR+ profile and company website).
• Finder’s Fees: Cash payments up to 8 % of gross proceeds for eligible finders; reduced to 2 % for investors on a president’s list.
• Related Party Participation: Insiders subscribed for approximately $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) under NI 45‑106 and Coordinated Blanket Order 45‑935; Units to Canadian subscribers are not subject to a hold period.
• CEO Comment: “We are very pleased by the support investors have showed both in this equity raise and in the US$15 Million debt security we closed last week… it is now up to management to move the Juby Gold project forward adding value…” – Mark Trevisiol, CEO & Chairman.

Notable Quotes

• Mark Trevisiol (CEO & Chairman): “We are very pleased by the support investors have showed both in this equity raise and in the US$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.”