Ms. Salisha Ilyas reports
FURY ANNOUNCES CAD$5,025,000 NON-BROKERED PRIVATE PLACEMENT
Fury Gold Mines Ltd. has arranged a private placement for approximately $5,025,000 from the sale of 6.7 million units of the company at a price of 75 cents per unit. Each unit will consist of one common share of Fury and one common share purchase warrant.
Each warrant can be exercised to purchase a common share at an exercise price of $1.20 until the date that is three years from the closing date. The expiry date of the warrants can be accelerated to 30 days by notice from the company should the common shares trade at a price equal to or greater than $1.50 for 20 consecutive trading days.
Proceeds from the offering will be used to finance continued exploration at the company's Eau Claire project in Quebec and for general working capital.
Completion of the placement may be completed in multiple tranches, and is subject to receipt of executed subscription agreements and funds and customary closing conditions, including conditional approval from the Toronto Stock Exchange and the NYSE American.
The securities issued under the placement will be subject to a four-month hold period under Canadian securities laws.
About Fury Gold Mines Ltd.
Fury is a Canadian-focused gold exploration company positioned in three prolific mining regions across the country. Led by a management team and board of directors with proven success in financing exploration and developing mining assets, Fury intends to expand and advance its multimillion-ounce gold platform through exploration excellence. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining.
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