McFarlane Lake Mining Acquires Juby Gold Project

McFarlane Lake Mining Limited has finalized the acquisition of the Juby Gold Project and a 25% interest in the adjacent Knight property from Aris Mining Holdings Corp. This US$22 million deal transforms McFarlane into a company with a substantial gold resource base. Payment consisted of US$13,165,677 in cash and 82,023,746 common shares of McFarlane. The acquisition promises to enhance shareholder value.

The acquisition was financed through a US$15 million debt offering and a C$8.46 million equity transaction. The debt involved a private placement of 15,000 debenture units, each including a senior secured debenture maturing in 13 months and warrants for common shares. The equity financing entailed a private placement of company units and flow-through shares.

Aris Mining now holds 19.9% ownership in McFarlane's shares. The transaction supports McFarlane's exploration goals, positioning the company advantageously amid high gold prices.