10:42 AM EDT, 07/15/2025 (MT Newswires) -- First Mining Gold ( FFMGF ) on Tuesday said it increased the size of its previously announced public offering to up to near 66.7 million units at $0.18 apiece for up to $12 million.

The shares dropped 7.9%.

Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to buy one common share at $0.27 per share at any time prior to the date which is 36 months following the applicable closing date, expected on or about July 22.

The company said it also intends to complete a non-brokered private placement of up to 55.6 million units at the unit offering price and up to 22.7 million flow-through units at $0.22 per FT unit for up to $15 million. Each FT unit of this non-brokered offering, expected to close on or before August 5, will consist of one FT share and one-half of a warrant.

The company expects to receive combined proceeds of up to $27 million upon completion of the offering.

Proceeds from the sale of units under the offering will be used to advance its Springpole and Duparquet gold projects, and for general working capital and corporate purposes. Proceeds from the sale of FT units will be used to incur eligible "Canadian exploration expenses" that qualify as "flow through mining expenditures."

Shares of the company were last seen down $0.0150 at $0.175 on the Toronto Stock Exchange.

Price: 0.18, Change: -0.02, Percent Change: -7.89