Maple Gold Mines closes $13-million offering

Executive Summary

• Maple Gold Mines Ltd. has closed its best efforts private placement offering, raising total gross proceeds of $13,000,560.
• The financing was upsized and oversubscribed, supported by leading institutional investors, including a major precious metals fund taking a 9.5% stake.
• Proceeds will fund key catalysts through 2026, with flow-through share proceeds allocated to Canadian exploration expenses and non-flow-through proceeds for general and administrative expenses.

Key Details

• Total Gross Proceeds: $13,000,560.
• Share Issuance:
  • Non-Flow-Through (NFT) Shares: 4,167,000 shares issued at $1.20 per share.
  • Flow-Through (FT) Shares: 4,762,000 shares issued at $1.68 per share.
• Use of Proceeds:
  • FT Shares: Gross proceeds used to incur eligible Canadian exploration expenses (renounced to subscribers effective Dec. 31, 2025) related to mineral properties in Quebec, to be incurred on or before Dec. 31, 2026.
  • NFT Shares: Net proceeds used for general and administrative expenses and unallocated working capital over a 12-month period following closing.
• Agent Compensation:
  • Cash Commissions: $780,033.60 paid to agents.
  • Warrants: 535,740 non-transferable compensation warrants issued to agents.
  • Warrant Terms: Each warrant entitles the holder to acquire one common share at the NFT issue price ($1.20) until Oct. 23, 2027.
• Regulatory Status: Subject to final acceptance of the TSX Venture Exchange.
• Exemptions: Offered pursuant to Part 5A of National Instrument 45-106 to purchasers in Canada and qualifying jurisdictions (including the US). No hold period in Canada for Canadian subscribers under the listed issuer financing exemption.
• Strategic Update: CEO Kiran Patankar announced plans to commence an expanded fall/winter drill program in the coming weeks.

Notable Quotes

• "We are very pleased to have closed this upsized and oversubscribed financing, which bolsters our balance sheet and fully funds key catalysts through 2026," stated Kiran Patankar, president and chief executive officer of Maple Gold. "Strong support from leading institutional investors, including one of the world's largest precious metals funds taking a 9.5-per-cent stake, speaks both to the quality of our Quebec assets and the market's confidence in our team and growth strategy."