FFM.ASX: Canadian bought deal financing and Australian equity raise

Canadian bought deal financing and Australian equity raise

Stock	Firefly Metals Ltd (FFM.ASX)
Release Time	5 Jun 2025, 9:53 a.m.
Price Sensitive	Yes

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FireFly Metals announces C$25.8M Canadian financing and A$46M Australian raise

Key Points

Enters agreement for C$25.8M Canadian bought deal financing
Concurrently raises A$46M in Australian equity raise
Proceeds to fund Green Bay Copper-Gold Project development

Full Summary

FireFly Metals Ltd has announced that it has entered into an agreement with BMO Capital Markets to purchase, on a bought deal basis, 30,000,000 ordinary shares of the company at a price of C$0.86 per share, for gross proceeds of C$25.8M. The company has also granted BMO Capital Markets an option to purchase up to an additional 10% of the offering. Separately, the company has entered into an agreement with Canaccord Genuity to raise a total of approximately A$46M through a charity flow-through placement of A$11.2M, an institutional placement of A$29.9M, and a retail share purchase plan of up to A$5M. The net proceeds from the Canadian and Australian offerings will be primarily used for expenditure at the Green Bay Copper-Gold Project, including underground development, resource extension and infill drilling, regional and near-mine exploration, and pre-construction and study works. The proceeds will also be used for transaction costs and working capital.