04:25 PM EDT, 05/28/2024 (MT Newswires) -- First Mining Gold ( FFMGF ) on Tuesday said it is raising up to $5 million a private placement of flow-through shares.

The company is offering 24.2-million national flow-through shares priced at $0.165 and 11.1 million Quebec flow-through shares priced at $0.18 each.

Proceeds will be used by First Mining to fund exploration programs that qualify as "Canadian exploration expenses" and "flow-through mining expenditures."

First Mining shares closed up $0.005 to $0.145 on the Toronto Stock Exchange.