McFarlane Lake Mining Closes $6.75 Million Private Placement

McFarlane Lake Mining Limited closed a non-brokered private placement on June 5, 2026, raising gross proceeds of $6.75 million. The financing follows an announcement made on May 28, 2026. Two investors participated. One subscriber purchased $6.35 million of the units, and the second subscriber purchased the remaining balance. Each unit consists of one common share and one warrant.

The company stated that net proceeds may be used to repay a portion of outstanding debentures, advance exploration and development programs at the Juby Gold Project, and support general working capital.

The units were issued at $0.12 per unit.

Each warrant allows the holder to purchase one additional common share at $0.16 within 36 months of issuance. All securities are subject to a four-month-and-one-day hold period. The offering remains subject to final acceptance by the Canadian Securities Exchange. The securities were distributed under Canadian prospectus exemptions and are not registered for sale in the United States.