11:26 AM EDT, 10/14/2025 (MT Newswires) -- Fury Gold Mines Limited ( FURY ) Tuesday announced the closing of its brokered private placement for total aggregate gross proceeds of approximately C$18 million.

The company said that the brokered private placement includes around 9.91 million flow-through units sold to charity purchasers (charity FT units) at a price per charity FT unit of $1.21 and about 6 million flow-through shares (FT shares) at a price per FT share of $1.00.

The charity FT units are made up of one "flow-through" share and one-half of one common share purchase warrant. Each warrant will allow the holder to buy one non-flow through common share at a price of $1.20 per warrant share for a period of 24 months from the date of the closing of the offering.

An insider of the company participated in the offering through the purchase of 10,000 FT shares.

A statement noted that the offering was conducted by a syndicate of agents led by Haywood Securities and including BMO Capital Markets, H.C. Wainwright, LLC, Beacon Securities Limited and Velocity Trade Capital.

The company said it will use the gross proceeds of the offering to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" related to its projects in Quebec and Nunavut on or before Dec. 31, 2026. It added that the exploration expenditures to be incurred will include expenditures in connection with the exploration of its Eau Claire and Committee Bay projects.

The company's shares were last seen up $0.08 to $1.07 on the Toronto Stock Exchange.

Price: 1.07, Change: +0.08, Percent Change: +8.08