11:57 AM EDT, 10/23/2025 (MT Newswires) -- Maple Gold Mines ( MGMLF ) on Thursday completed its $13-million private placement of non-flow-through and flow-through shares.

The company issued 4.17-million non-flow-through shares at $1.20 each, and 4.76-million flow-through shares at $1.68 each. The shares were issued under the listed issuer financing exemption.

Proceeds will be used to advance exploration of the company's Quebec mineral properties.

We are very pleased to have closed this upsized and oversubscribed financing, which bolsters our balance sheet and fully funds key catalysts through 2026," chief executive Kiran Patankar said. "Strong support from leading institutional investors, including one of the world's largest precious metals funds taking a 9.5% stake, speaks both to the quality of our Quebec assets and the market's confidence in our team and growth strategy.

The company's shares were last seen up $0.04 to $1.48 on the TSX Venture Exchange.

Price: 1.48, Change: +0.04, Percent Change: +2.78