McFarlane's $15M (U.S.) debt financing fully subscribed

Executive Summary

• McFarlane Lake Mining Ltd. confirms that its previously announced $15-million (U.S.) debt financing is fully subscribed.
• The proceeds from this debt financing, combined with a concurrent equity offering of up to $10-million (U.S.), will primarily fund the acquisition of the Juby gold project from Aris Mining Holdings Corp.
• Both the financing transactions and the acquisition are expected to close on or about September 19, 2025.

Key Details

• Debt Financing Status: The $15-million (U.S.) debt financing announced on August 25, 2025, is now fully subscribed.
• Use of Proceeds (Debt): Proceeds will finance the cash portion of the company's proposed acquisition of the Juby Properties and an interest in the Knight Properties (collectively, the Juby gold project) from Aris Mining Holdings Corp. (AMHC).
• Concurrent Equity Offering: An equity offering of common shares was announced concurrently, with gross proceeds of up to $10-million (U.S.) (approximately $13.8-million).
• Closing Date: Both the debt financing and the equity offering are expected to close on or about September 19, 2025.
• Acquisition Details: The net proceeds from both the debt and equity offerings will be used primarily to finance the acquisition of the Juby gold project, which is also expected to close on September 19, 2025.
• Transaction Agreement: The acquisition is governed by an asset purchase agreement dated July 7, 2025, among McFarlane Lake Mining Ltd., Aris Mining Corp., and Aris Mining Holdings Corp. (AMHC).
• Advisers:
  • Wildeboer Dellelce LLP: Legal counsel for McFarlane Lake.
  • Cassels Brock & Blackwell LLP: Legal counsel for the lenders.
  • Fasken Martineau DuMoulin LLP: Legal counsel for AMHC.

Notable Quotes

• "This is a significant step toward completing McFarlane Lake's acquisition of the Juby gold project," said Mark Trevisiol, chief executive officer and chairman of the company.
• "I would like to thank those who have agreed to participate in the debt financing, our team is excited to close the acquisition and to start advancing and developing what I believe is one of Ontario's premier gold properties."