Fury Gold Mines increases financing to $18-million

Executive Summary

• Fury Gold Mines Ltd. has amended its private placement agreement to increase total gross proceeds to up to C$18,000,150.
• The offering now includes up to 9,915,000 charity flow‑through units at $1.21 per unit and up to 6,003,000 traditional flow‑through shares at $1.00 per share.
• Proceeds will be used for Canadian exploration expenses on the Eau Claire and Committee Bay projects, with a scheduled closing around Oct. 10, 2025.

Key Details

• Amended Offering Size: Up to C$18,000,150 total gross proceeds.
• Units Offered:
• Charity FT units – up to 9,915,000 units at $1.21 each (includes one share + ½ warrant).
• Traditional FT shares – up to 6,003,000 shares at $1.00 each.
• Warrant Terms: Each whole warrant allows purchase of one common share at an exercise price of $1.20 for 24 months after closing; warrants do not qualify as flow‑through shares.
• Removal of Overallotment Option: The previously announced overallotment option has been eliminated.
• Use of Proceeds: To fund Canadian exploration expenses qualifying as flow‑through mining expenditures, to be incurred by Dec. 31, 2026 and renounced to subscribers by Dec. 31, 2025; specifically for Eau Claire and Committee Bay projects.
• Closing Date: Expected on or about Oct. 10, 2025, subject to customary conditions and regulatory approvals (TSX and NYSE American).
• Commission: Agents will receive a cash commission of up to 6 % of gross proceeds.
• Regulatory Exemption: Offering made under the Listed Issuer Financing Exemption (LIFE) in all Canadian provinces except Quebec; no resale restrictions apply.

Notable Quotes

(No direct quotes were provided in the release.)