Fury Announces C$5 Million Financing
Summary
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, British Columbia, May 23, 2024 (GLOBE NEWSWIRE) -- FURY GOLD MINES LIMITED (TSX: FURY, NYSE American: FURY) (Fury or the Company) is pleased to announce that it has entered into an agreement with Haywood Securities Inc., on behalf of itself and a syndicate of agents to be formed (collectively, the Agents) pursuant to which the Agents have agreed to sell, on a commercially reasonable efforts agency basis, up to 5,320,000 common shares of the Company that will qualify as flow-through shares within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Qu\xe9bec) (the FT Shares) at a price of C$0.94 per FT Share (the Issue Price) to be sold on a charitable flow-through basis, for total gross proceeds to the Company of C$5,000,800 (the Offering).In addition, the Company has agreed to grant to the Agents an over-allotment option (the Over-Allotment Option) exercisable, in whole or in part, at the sole discretion of the Agents, to purchase up to an additional 798,000 FT Shares (representing 15% of the total number of FT Shares comprising the Offering) at the Issue Price, for a period of up to 48 hours prior to closing of the Offering.The FT Shares will be offered to purchasers pursuant to the listed issuer financing exemption (LIFE Exemption) under Part 5A of NI 45-106 in all of the provinces of Canada, including Qu\xe9bec, and therefore will not be subject to resale restrictions pursuant to applicable Canadian securities laws. This news release is not an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.About Fury Gold Mines LimitedFury Gold Mines Limited is a Canadian-focused exploration company positioned in two prolific mining regions across Canada and holds a 54 million common share position in Dolly Varden Silver Corp (approximately 19% of issued shares). Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that Fury expects or anticipates will or may occur in the future including the closing date of the Offering, proposed use of proceeds of the Offering and the tax treatment of the FT Shares. Although Fury has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information including the speculative nature of mineral exploration and development, fluctuating commodity prices, the future tax treatment of the FT Shares, the risks and uncertainties related to the Offering not being completed in the event that the conditions precedent thereto (including receipt of requisite regulatory approvals) are not satisfied; uncertainties related to raising sufficient financing in a timely manner and on acceptable terms; and other risks and uncertainties disclosed in our recent securities filings available at www.sedarplus.ca.There may also be other factors that cause actions, events or results not to be as anticipated, estimated or intended.