First Mining receives $6.41M from warrant exercise

Executive Summary

• First Mining Gold Corp. received $6,410,045 from the exercise of 32,050,228 common share purchase warrants by First Majestic Silver Corp.
• The warrants were exercised at a price of $0.20 per warrant and were originally issued in relation to an amendment of a silver purchase agreement involving First Majestic, First Mining, and Gold Canyon Resources Inc.
• First Majestic’s ownership stake in First Mining increased to 3.5% of total common shares outstanding (47,379,944 shares) following the exercise.

Key Details

• Proceeds Received: $6,410,045
• Warrants Exercised: 32,050,228 common share purchase warrants
• Exercise Price: $0.20 per warrant
• Exercising Party: First Majestic Silver Corp.
• Use of Proceeds: Advancement of Springpole and Duparquet gold projects, general working capital, and corporate purposes.
• Post-Exercise Ownership: First Majestic holds 47,379,944 common shares, representing 3.5% of First Mining’s total common shares outstanding.
• Context: The warrants were issued in connection with amending the terms of a silver purchase agreement among First Majestic, First Mining, and Gold Canyon Resources Inc. (a wholly owned subsidiary of First Mining).

Notable Quotes

• None provided in the release.