First Mining Gold Corp FFMGF

FF files Base Shelf Prospectus and Registration Statement

[zack50]

 

04:35 PM EDT, 09/03/2021 (MT Newswires) -- First Mining Gold Corp. (FF.TO) filed Friday a preliminary short form base shelf prospectus with the securities commissions in each of the provinces of Canada, and a corresponding registration statement on Form F-10 with the United States Securities and Exchange Commission under the U.S./Canada Multijurisdictional Disclosure System.

First Mining said it has filed this Preliminary Shelf Prospectus and Registration Statement to provide the company with greater financial flexibility going forward but has not entered into any agreements or arrangements to authorize or offer any Securities at this time.

When made final or effective, the Preliminary Shelf Prospectus and corresponding Registration Statement will allow First Mining to undertake offerings of common shares (including common shares issued on a "flow-through" basis), preferred shares, warrants, subscription receipts and units, or any combination thereof, up to an aggregate total of C$100 million from time to time during the 25-month period that the final short form base shelf prospectus remains effective.

[shootertutor]

This does not sound good... I thought FF with their recent partner agreements was not going to need additional funding?   Adding $100mil seems like a LOT at the current market cap of $241mil. At the current market cap of $241mil and the current share price .34CDN the the addtion of $100mil will add approx 290k share getting close to 1mil shares. Can someone please explain how

[SurfacePro7]

they are not raising money - it is just a shelf filing meaning they are keeping their documents up to date.  they always had a shelf outstanding and needs to be refreshed every 25 months with the regulators

[shootertutor]

thanks