Fury Gold Mines arranges $12-million financing

Executive Summary

• Fury Gold Mines Ltd. entered into a brokered financing agreement with Haywood Securities Inc. to raise up to C$12 million through charity flow‑through units and traditional flow‑through shares.
• Units are priced at $1.21 per charity flow‑through unit and $1.00 per traditional flow‑through share; each warrant attached to charity units is exercisable at $1.20 for 24 months.
• Proceeds will be used for Canadian exploration expenses on the Eau Claire and Committee Bay projects, with expenditures required by Dec 31 2026 and renounced to investors by Dec 31 2025.

Key Details

• Offering Structure: Combination of (i) charity flow‑through units at $1.21 each and (ii) traditional flow‑through shares at $1.00 each.
• Warrant Terms: Each charity unit includes ½ warrant; whole warrants allow purchase of one share at $1.20, exercisable for 24 months after closing. Warrants themselves are not flow‑through shares.
• Overallotment Option: Agents may sell up to an additional 15 % of the total units/shares (over‑allotment) at issue prices within a 48‑hour window before closing, at their discretion.
• Commission: Cash commission to agents up to 6 % of gross proceeds.
• Exemptions: Offering relies on the listed issuer financing exemption under Part 5A of NI 45‑106 (excludes Quebec); no resale restrictions apply.
• Use of Proceeds: To fund Canadian flow‑through mining expenditures on Eau Claire and Committee Bay projects, incurred by Dec 31 2026 and renounced to investors by Dec 31 2025.
• Closing Timeline: Expected closing on or about Oct 10 2025, subject to customary conditions including TSX and NYSE American approvals.
• Regulatory Documents: Offering document available on SEDAR+ and the company website; investors urged to review before investing.

Notable Quotes

(No direct quotes were provided in the release.)