05:14 PM EDT, 06/04/2025 (MT Newswires) -- FireFly Metals Ltd ( MNXMF ) after close of trade Wednesday said BMO Capital Markets agreed to purchase on a bought-deal basis 30-million shares of the company for $0.86 each, raising $25.8 million.

The company also granted the underwriter an 10% over-allotment option.

Separately, the company has also entered into an agreement with Canaccord Genuity to raise A$46 million in an Australian private placement of common and charity flow-through shares.

FireFly will also separately undertake a retail share purchase plan (SPP) of up to A$5 million . The Flow-Through and Placement are expected to close on or about June 13, 2025 with the SPP to be completed subsequently.

Proceeds of the 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 drill testing, pre-construction and study works.

FireFly shares closed down $0.01 to $0.96 on the Toronto Stock Exchange.