McFarlane Lake Mining Finalizes $9.34 Million Equity Financing

On October 10, 2025, McFarlane Lake Mining Limited announced the closure of its non-brokered private placement offering, raising $9.34 million. The Canadian gold exploration company issued 5,829,998 units in its final tranche, each priced at $0.15, contributing to the total. No flow-through shares were issued in this final round. Proceeds are earmarked for general corporate purposes.

Each unit combines one common share with half a purchase warrant, available for exercise at $0.25 per share until 2028. CEO Mark Trevisiol expressed satisfaction with investor support, citing the recent $15 million debt security as further backing. The funds aim to advance the Juby Gold project by increasing resource estimates and engaging the investment community.

The private placement utilized the Listed Issuer Financing Exemption, allowing participating Canadian subscribers to avoid holding period restrictions. Certain insiders subscribed for $190,000 worth of units, invoking related party transaction rules. The offering awaits final regulatory approval.