First Mining Finance to Acquire Pitt Gold Property

First Mining Finance Corp. (TSXV:FF) announced that it’s entered into a purchase agreement under which it will acquire the Pitt gold property from Brionor Resources Inc. (TSXV:BNR) for C$1.25 million.
As quoted in the press release:

… CDN$1,000,000 of the purchase price will be satisfied through the issuance of 2,535,293 common shares of First Mining to Brionor, based on the 20-day VWAP and the remaining CDN$250,000 will be paid in cash. The common shares issued to Brionor will be subject to a four-month hold period.

Keith Neumeyer, chairman of First Mining, commented:

The acquisition of the Pitt Gold Property will provide First Mining with an additional property in the Abitibi Region of Quebec which is one of the world’s most prolific gold producing regions. This acquisition will be complementary to the Clifton Star transaction and fits into First Mining’s growth and expansion plans.

Click here to read the full First Mining Finance Corp. (TSXV:FF) press release.