VANCOUVER, BC / ACCESSWIRE / August 26, 2024 / FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) ("FireFox" or the "Company") announces, effective August 23, 2024 that, subject to regulatory acceptance, it has completed the second and final tranche of the non-brokered private placement (the "Private Placement") announced on June 19, 2024.

FireFox has raised gross proceeds of $1,395,250 by issuing 27,905,000 units of the Company at a purchase price of $0.05 per unit. Each unit consists of one common share of the Company and one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the Company at an exercise price of $0.08 per share for a term of three years from the date of issuance. The Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.

The Company intends to use the proceeds of the Private Placement for mineral exploration and related expenditures on FireFox's Mustaj?rvi, Jeesi?, and Sarvi projects in northern Finland and general working capital.

Certain directors and officers of the Company purchased a total of 1,350,000 units. Other insiders, namely Agnico Eagle Mines Limited ("Agnico") and Crescat Portfolio Management LLC ("Crescat") purchased a total of 5,085,000 units. Specifically, Agnico exercised their participation right and acquired 3,085,000 units.

The placement to these insiders constitutes a "related party transaction" within the meaning of Multilateral Instrument 61- 101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 ") and TSXV Policy 5.9 -- Protection of Minority Security Holders in Special Transactions. In connection with this related party transaction, the Company is relying on the formal valuation and minority approval exemptions of 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the portion of the Private Placement subscribed for by these insiders does not exceed 25 percent of the Company's market capitalization.

Of special note is that new investors in FireFox purchased 57% of this offering totaling 15,870,000 units.

FireFox will pay to qualified finders $19,950 in cash finders fees and will issue 399,000 finders warrants exercisable at $0.08 for 3 years from the date of issuance.

About FireFox Gold Corp.
FireFox Gold Corp is listed on the TSX Venture Stock Exchange under the ticker symbol FFOX. FireFox also trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The Company has been exploring for gold in Finland since 2017 where it holds a large portfolio of prospective ground.