Ms. Salisha Ilyas reports
FURY FILES PRELIMINARY BASE SHELF PROSPECTUS
Fury Gold Mines Ltd. has filed and received a receipt from the Ontario Securities Commission (as principal regulator) for a preliminary short form base shelf prospectus with the securities commissions or similar regulatory authorities in all of the provinces and territories of Canada, and has filed a corresponding registration statement on Form F-10 with the United States Securities and Exchange Commission under the United States Securities Act of 1933, as amended.
Upon the issuance of a receipt for the final base shelf prospectus and the registration statement having been declared effective by the SEC, the company will be permitted to offer up to $200-million of common shares, subscription receipts, warrants and units, or any combination thereof, during the 25-month period that the prospectus is effective. The specific terms of any offering of securities, including the use of proceeds from any offering, will be set forth in a shelf prospectus supplement.
Securities may be offered under the prospectus (and corresponding registration statement) separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and as set forth in an applicable prospectus supplement. No securities may be sold, nor may offers to buy be accepted, prior to the time a receipt for the final shelf prospectus has been issued and the registration statement has been declared effective.
Information regarding the use of proceeds of any offering of securities will be contained in a prospectus supplement relating to the particular offering. Such proceeds may be used to further the company's exploration plans at the Eau Claire project and to finance, in whole or in part, the company's exploration plans at the Homestake Ridge and Committee Bay projects, and for working capital purposes.
The company currently anticipates that its current financial resources will be sufficient to finance its planned operations for the 12 months from the date of the prospectus, as set out in more detail under the heading "use of proceeds" in the prospectus. For a discussion of the company's currently financed plans and the company's plans if it raises additional capital, see "corporate strategy" and "financial position, liquidity, and capital resources" in the company's management's discussion and analysis for the year ended Dec. 31, 2020, which is incorporated by reference in the prospectus and the registration statement.
The registration statement has been filed with the SEC, but is not yet effective. Securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Copies of the prospectus and the registration statement (once effective) may be obtained on request without charge from the corporate secretary of Fury at 34 King St. East, suite 601, Toronto, Ont., M5C 2X8, telephone 437-500-2529 and are also available electronically on SEDAR or the SEC website.
About Fury Gold Mines Ltd.
Fury Gold Mines is a Canada-focused exploration and development company positioned in three prolific mining regions across the country. Led by a management team and board of directors with proven success in financing and developing mining assets, Fury will aggressively grow and advance its multimillion-ounce gold platform through project development and potential new discoveries. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining.
We seek Safe Harbor.
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