Maple Gold Announces Closing of Oversubscribed Concurrent Offerings for Gross Proceeds of $16 Million

Executive Summary

• Maple Gold Mines closed an oversubscribed “best efforts” brokered private placement (the LIFE Offering) raising $11.985 M from the issuance of 3,525,000 flow‑through common shares at $3.40 per share.
• A concurrent non‑brokered private placement raised an additional $4.015 M through 1,070,960 flow‑through shares and 152,580 common shares at $2.45 per share.
• Strategic investors Agnico Eagle, Michael Gentile and Franklin Templeton maintained their proportional ownership stakes; management and board purchased 96,700 common shares.

Key Details

• LIFE Offering: Gross proceeds $11,985,000; 3,525,000 FT Shares @ $3.40 each. Lead agent/sole bookrunner: Canaccord Genuity Corp.; other agents: Agentis Capital Markets, Beacon Securities Ltd., Paradigm Capital Inc.
• Concurrent Private Placement: Gross proceeds $4,015,085; 1,070,960 FT Shares @ $3.40 each and 152,580 common shares @ $2.45 each.
• Agent Fees: Cash fee to agents for LIFE Offering = $719,100; no commission/fee for Concurrent Private Placement.
• Ownership Impact: Agnico Eagle purchased 662,780 common shares, keeping ~13.7% partially‑diluted ownership. Michael Gentile and Franklin Templeton each retained ~8.4% and ~9.5% respectively. Management/board bought 96,700 common shares for $236,915.
• Use of Proceeds – FT Shares: To be spent on eligible Canadian exploration expenses (flow‑through mining expenditures) related to Maple Gold’s projects, with renunciation deadlines of Nov 30 2026 (first $4 M) and Dec 31 2026 (balance).
• Use of Proceeds – Common Shares: Net proceeds earmarked for general & administrative expenses and unallocated working capital over the subsequent 12 months.
• Hold Periods: FT Shares issued under the LIFE Offering have no hold period in Canada; FT and common shares from the Concurrent Private Placement are subject to a four‑month hold period.
• Related Party Transaction: Management/board participation (96,700 common shares) qualified as an exempt related‑party transaction under TSX Venture policies; no material change report filed due to timing.

Notable Quotes

“We are thrilled with the robust backing from new institutional investors for this significantly oversubscribed financing and the strong vote of confidence from our existing shareholders and strategic partners,” – Kiran Patankar, President & CEO.

Materiality Assessment: Material – Positive (significant capital raise to fund exploration, ownership structure impact, and positive market reception).