FireFly Metals Ltd Announces C$30 (~A$33) Million Canadian Bought Deal Financing and C$96.8 (~A$106.5) Million Australian Equity Raise

Core Viewpoint - FireFly Metals Ltd has announced agreements for two significant capital raising initiatives: a Canadian Offering to raise approximately C$30 million and an Australian Offering to raise approximately A$101.5 million, aimed at advancing its mineral projects [1][3]. Canadian Offering - The Canadian Offering involves the sale of 19,230,770 ordinary shares at a price of C$1.56 (A$1.70) per share, with gross proceeds expected to be C$30 million (approximately A$33 million) [1]. - BMO Capital Markets has been engaged to manage the offering, with an option to purchase an additional 15% of the offering to cover over-allotments [1][2]. - The offering is anticipated to close around December 17, 2025, pending necessary regulatory approvals [2]. Australian Offering - Concurrently, the Australian Offering aims to raise approximately A$101.5 million, consisting of a charity flow-through placement of A$16.5 million and an institutional placement of A$85 million [3]. - A retail share purchase plan (SPP) will also be conducted, allowing eligible shareholders to subscribe for up to A$30,000 worth of shares, potentially raising an additional A$5 million [3]. Use of Proceeds - The net proceeds from both offerings and the SPP will primarily be allocated to: - Development and early works for the Green Bay Copper-Gold Project - Technical studies including mine options assessments - Underground drilling for resource growth and new discoveries - Regional exploration drilling targeting new discoveries - General administrative and working capital flexibility [4][6]. Company Overview - FireFly Metals Ltd is focused on advancing the Green Bay Copper-Gold Project in Newfoundland, Canada, which currently hosts a Mineral Resource of 50.4 million tonnes at 2.0% copper equivalent, totaling 1,016,000 tonnes of copper equivalent [5][22]. - The company also holds a 70% interest in the Pickle Crow Gold Project in Ontario, with an Inferred Mineral Resource of 11.9 million tonnes at 7.2 g/t for 2.8 million ounces of gold [6][10].