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First Mining Gold Corp. ("First Mining") announces today that on May 6, 2024 it disposed of 4,539,000 common shares of Treasury Metals Inc. (TSX: TML) (" Treasury ") at a price of $0.22 per share for gross proceeds of approximately $1.0 million through the facilities of the Toronto Stock Exchange (the " Transaction ").
Immediately prior to the Transaction, First Mining owned 20,000,311 common shares of Treasury, representing approximately 10.69% of the issued and outstanding common shares of Treasury (calculated on a non-diluted basis). Immediately following the Transaction, First Mining held beneficial ownership of, or control and direction over, an aggregate of 15,461,311 common shares of Treasury, representing approximately 8.26% of the issued and outstanding common shares of Treasury (calculated on a non-diluted basis). Accordingly, First Mining is no longer a "reporting insider" of Treasury, as such term is defined under applicable securities laws, as First Mining has fallen below the 10% reporting threshold.
In the future, First Mining may acquire additional securities of Treasury or dispose of such securities subject to a number of factors, including general market and economic conditions and other available investment and business opportunities.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues , which also requires a report to be filed in accordance with applicable securities laws (the " Early Warning Report "). A copy of the Early Warning Report will be available under First Mining's and Treasury's profiles on SEDAR+ at www.sedarplus.ca .
About Treasury Metals Inc.
Treasury was incorporated under the laws of the Province of Ontario . Treasury's head office is located at 15 Toronto St., Suite 401, Toronto, Ontario , M5C 2E3, Canada . Treasury's common shares are traded on the Toronto Stock Exchange.
About First Mining Gold Corp.
First Mining is a Canadian mineral exploration and development company incorporated under the laws of the Province of British Columbia . First Mining's head office is located at Suite 2070 - 1188 West Georgia Street, Vancouver, British Columbia , V6E 4A2.
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SOURCE First Mining Gold Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/07/c5698.html
