McFarlane Lake Announces Closing of $6.75 Million Investment Led by Strategic Investors - Michael Gentile and Pierre Beaudoin

Executive Summary

• McFarlane Lake Mining Limited closed a non-brokered private placement raising $6.75 million in aggregate gross proceeds.
• The offering was led by strategic investor Michael Gentile ($6.35M) and supported by Pierre Beaudoin ($0.40M), with proceeds designated for debt repayment, Juby Gold Project advancement, and working capital.
• Investors received units at $0.12 per unit, each comprising one common share and one warrant exercisable at $0.16 for 36 months, while Gentile's acquisition triggers a 9.83% ownership stake and an early warning disclosure.

Key Details

• Gross Proceeds: $6,750,000
• Offering Structure: Non-brokered private placement
• Unit Price: $0.12 per unit
• Unit Composition: 1 common share + 1 common share purchase warrant per unit
• Warrant Terms: Exercise price of $0.16, exercisable for 36 months from issuance date
• Lead Investor Subscription: Michael Gentile subscribed for $6,350,000
• Secondary Investor Subscription: Pierre Beaudoin subscribed for the remaining $400,000
• Use of Proceeds: Repay a portion of outstanding debentures, advance exploration and development programs at the Juby Gold Project, and general working capital purposes
• Shareholder Acquisition: Michael Gentile acquired 52,916,666 common shares and 52,916,666 warrants
• Post-Offering Ownership: Gentile holds ~9.83% of issued and outstanding common shares; assuming full warrant exercise, ownership would rise to ~19.67%
• Regulatory Status: Offering remains subject to final acceptance by the Canadian Securities Exchange (CSE)
• Hold Period: 4 months and 1 day from issuance date per applicable securities laws
• Early Warning Disclosure: Filed under National Instrument 62-103; Gentile confirmed no current plans or intentions to change control, influence management, or alter the company's business, operations, or capital structure
• Legal/Compliance: Units issued pursuant to Canadian prospectus exemptions under National Instrument 45-106; securities not registered under the U.S. Securities Act of 1933

Notable Quotes

• Mark Trevisiol, Chairman and CEO: “This investment brings much more than a financial boost to our balance sheet. Our market capitalization has nearly doubled in the last week and the awareness across the market about our Juby Gold Project is getting the needed traction to take the development of the project to a new level. We look forward to working with Michael and Pierre in advancing this prolific gold asset.”