Firefox Gold: Completes $2.1 Million Non-Brokered Private Placement

VANCOUVER, BC – (October 28th, 2020) – FireFox Gold Corp. (“FireFox” or the “Company”) announces that, subject to regulatory acceptance, it has completed the non-brokered private placement (the “Private Placement”) announced on October 13th, 2020.

The Private Placement was oversubscribed, raising total gross proceeds of approximately $2,143,494 by issuing 11,908,300 units at a purchase price of $0.18 per unit. Each unit consists of one common share of the Company and one half of 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 C$0.27 per share for a term of two 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 general corporate purposes, working capital and exploration activities on FireFox’s gold exploration properties in Finland.

M Partners Inc. acted as a finder in this placement. In association with this tranche of the financing, subject to TSX-V acceptance, the Company will pay to qualified finders $80,875 in cash finder’s fees and will issue 374,422 finder’s warrants exercisable at $0.18 for 2 years from the date of issuance.

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