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	2 Dec 2025, 11:23 a.m.
Price Sensitive	Yes

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Firefly Metals raises over A$139 million

Key Points

C$30 million Canadian bought deal financing
A$106.5 million Australian equity raise
Proceeds to fund development, studies, drilling, and working capital

Full Summary

Firefly Metals Ltd (ASX: FFM, TSX: FFM) has announced that it has entered into an agreement with BMO Nesbitt Burns Inc. to raise C$30 (approximately A$33) million through a Canadian bought deal financing. The company has also entered into an agreement with Canaccord Genuity to raise a total of approximately A$101.5 million through an Australian equity raise, consisting of a charity flow-through placement of A$16.5 million and an institutional placement of A$85 million. Additionally, Firefly will undertake a retail share purchase plan of up to A$5 million. The net proceeds of the financings will be primarily used to fund development and early works, technical studies, underground and regional exploration drilling, and general administrative and working capital. The Canadian offering is expected to close on or about December 17, 2025, while the Australian offering is expected to close on or about December 12, 2025.