On December 7, 2023, First Mining Gold Corp. closed the transaction. The company issued 22,668,000 units at an issue price of CAD 0.125 per unit for the gross proceeds of CAD 2,833,500 in second and final tranche.

Each Unit consists of one common share and one-half of one common share purchase warrant. Each Warrant entitles the holder to acquire one common share of the Company at an exercise price of CAD 0.20 per Warrant Share at any time prior to the date which is 36 months following the closing date of the Final Tranche. All of the securities issued under the Final Tranche are subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws.

The Offering remains subject to the receipt of all necessary regulatory approvals, including the final approval of the Toronto Stock Exchange. The company has raised 86,661,000 units at an issue price of CAD 0.125 per unit for the gross proceeds of CAD 10,832,625 in the transaction.