Fury Announces Closing of C$18 Million Brokered Financing

Core Viewpoint - Fury Gold Mines Limited has successfully closed a brokered private placement, raising total gross proceeds of C$18,000,150 through the sale of flow-through units and shares, aimed at funding eligible Canadian exploration expenses [1][3]. Group 1: Offering Details - The Offering consisted of 9,915,000 Charity FT Units sold at C$1.21 each and 6,003,000 FT Shares sold at C$1.00 each [1]. - Each Charity FT Unit includes one flow-through share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one non-flow-through common share at a price of C$1.20 for 24 months [1]. - The Offering was conducted by a syndicate of agents led by Haywood Securities Inc. and included several other financial institutions [2]. Group 2: Use of Proceeds - The gross proceeds will be utilized for Canadian exploration expenses related to the Company's projects in Québec and Nunavut, specifically for the Eau Claire and Committee Bay projects [3]. - All qualifying expenditures will be renounced in favor of the purchasers by December 31, 2025 [3]. Group 3: Regulatory and Insider Participation - The Charity FT Units and FT Shares were sold under the listed issuer financing exemption, meaning they are not subject to resale restrictions under Canadian securities laws [4]. - An insider purchased 10,000 FT Shares, which is classified as a related party transaction, and the Company is relying on exemptions from formal valuation and minority shareholder approval requirements [5]. Group 4: Company Overview - Fury Gold Mines Limited is a Canadian-focused exploration company with a strong financial position and a significant shareholding in Dolly Varden Silver Corp [7]. - The management team has a proven track record in financing and advancing exploration assets, with a commitment to high standards in corporate governance and sustainable mining practices [7].