First Mining Gold Corp 6-K, filed Jan 15, 2020
First Mining Gold Corp. (FFMGF)
6-K
2020-01-15
For: 2020-01-15
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April 07, 2026
About this 6-K
First Mining Gold Corp filed this 6-K on January 15, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN
PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of
January 2020
Commission File Number: 000-55607
First Mining Gold
Corp.
(Translation of registrant's name into English)
(Translation of registrant's name into English)
Suite
1800, 925 West Georgia
Street, Vancouver, B.C., V6C3L2
(Address of principal executive office)
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form
40-F.
Form 20-F [ ]
Form 40-F [ X ]
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1): [ ]
SUBMITTED
HEREWITH
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Exhibits
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Press Release dated
January 15, 2020
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SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.
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First Mining Gold
Corp.
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(Registrant)
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Date: January 15,
2020
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/s/ Samir
Patel
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Samir Patel
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Corporate Counsel and Corporate
Secretary
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Exhibit 99.1
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TSX: FF
OTCQX:
FFMGF
FRANKFURT: FMG
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NEWS RELEASE
First Mining Issues First Tranche of Shares to Ausenco;
Pre-Feasibility Study for Springpole Gold Project
Underway
January 15, 2020 – Vancouver, BC – First Mining Gold
Corp. (“First Mining” or the
“Company”) (TSX: FF) (OTCQX: FFMGF) (FRANKFURT:
FMG) is pleased to announce that it has closed a private placement
equity financing with Ausenco Engineering Canada Inc.
(“Ausenco”), raising aggregate gross proceeds of
approximately $750,000 (the “Offering”).
As
detailed in the Company’s news release dated November 14,
2019, First Mining has entered into an agreement with
Ausenco to complete a Pre-Feasibility Study (“PFS”) for
the Company’s Springpole Gold Project, located in
northwestern Ontario, Canada (the “Project”). Ausenco
has elected to be compensated in common shares of the Company
(“Shares”) as consideration for its engineering
services.
Pursuant
to the Offering, First Mining issued 2,777,777 Shares to Ausenco at
a price of $0.27 per Share. The net proceeds raised from the sale
of the Offering will be used by First Mining to pay Ausenco for the
first half of the costs of the PFS currently underway for the
Company’s Springpole Gold Project. The Shares issued under
the Offering are subject to a statutory hold period of four months
and one day from closing, expiring on May 16, 2020.
“We
are very excited to have partnered with Ausenco as we continue to
advance the Springpole Gold Project,” stated Dan Wilton, CEO
of First Mining. “Work is now underway on the PFS, with an
initial focus on trade-off studies and optimizations to further
refine the ultimate scope of the Project. 2020 is a year of
significant de-risking for the Project, with results of the PFS
anticipated by year-end 2020 alongside advancement of the Project
through the environmental assessment process. These advancements
continue to highlight Springpole’s potential to become one of
Canada’s largest gold mines.”
Further Ausenco Agreement Details
Once
Ausenco has completed 75% of the PFS-related work, First Mining
will issue to Ausenco a further $375,000 in Shares. Pricing will be
based on the 30-day volume weighted average price
(“VWAP”) at the time, subject to the minimum pricing
rules of the Toronto Stock Exchange
(“TSX”).
Upon
completion of the PFS and the announcement by First Mining of the
PFS results, First Mining will satisfy the remaining amount owing
for completion of the PFS by issuing a final tranche of Shares to
Ausenco. This final tranche of Shares will be issued to Ausenco
after at least five trading days after the date of the
Company’s news release announcing the results of the PFS have
passed, with pricing of the Shares based on the 30-day VWAP as of
the news release date, subject to the minimum pricing rules of the
TSX.
Ausenco
is a global, diversified engineering, construction and project
management company providing consulting, project delivery and asset
management solutions to the resources, energy and infrastructure
sectors. Ausenco has significant experience in the study and
execution of projects similar to Springpole, with substantial
recent experience in eastern Canada including the Feasibility Study
(“FS”) and subsequent EPC execution of the Moose River
Consolidated Gold Project for Atlantic Gold (now a subsidiary of
St. Barbara), Marathon Gold’s Valentine Lake PFS and Anaconda
Mining’s Goldboro FS.
About First Mining Gold
Corp.
First
Mining Gold Corp. is an emerging development company with a
diversified portfolio of gold projects in North America. Having
assembled a large resource base of 7.4 million ounces of gold in the
Measured and Indicated
categories and 3.8 million
ounces of gold in the Inferred category in mining friendly
jurisdictions of eastern Canada, First Mining is now focused on
advancing its material assets towards a construction decision and,
ultimately, to production. The Company currently holds a portfolio
of 24 mineral assets in Canada, Mexico and the United
States.
ON BEHALF OF FIRST MINING GOLD CORP.
Daniel
W. Wilton
Chief Executive Officer and Director
For further information, please contact:
Mal
Karwowska |
Vice President, Corporate Development & Investor
Relations
Direct:
604.639.8824 | Toll Free:
1.844.306.8827 | Email:
info@firstmininggold.com
www.firstmininggold.com
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking
information” and "forward-looking statements”
(collectively "forward-looking statements”) within the
meaning of applicable Canadian and United States securities
legislation including the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
made as of the date of this news release. Forward-looking
statements are frequently, but not always, identified by words such
as "expects”, "anticipates”, "believes”,
“plans”, “projects”, "intends”,
"estimates”, “envisages”, "potential”,
"possible”, “strategy”, “goals”,
“objectives”, or variations thereof or stating that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions.
Forward-looking statements in this news release relate to future
events or future performance and reflect current estimates,
predictions, expectations or beliefs regarding future events and
include, but are not limited to, statements with respect to: (i)
the completion and timing of the PFS; (ii) the completion and
timing of optimization studies on the Springpole Gold Project as it
is advanced through a PFS; (iii) the issuance to Ausenco of
additional Shares in the future once it has completed 75% of the
PFS-related work, and once the Company has announced the results of
the PFS, and the price of such Shares; and (iv) the timing of the
announcement of the PFS results. All forward-looking statements are
based on First Mining's or its consultants' current beliefs as well
as various assumptions made by them and information currently
available to them. There can be no assurance that such statements
will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon
a number of assumptions and estimates that, while considered
reasonable by the respective parties, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation: (i) the presence of and
continuity of metals at the Springpole Gold Project at estimated
grades; (ii) the geotechnical and metallurgical characteristics of
rock conforming to sampled results, including the quantities of
water and the quality of the water that must be diverted or treated
during mining operations; (iii) the capacities and durability of
various machinery and equipment; (iv) the availability of
personnel, machinery and equipment at estimated prices and within
the estimated delivery times; (v) currency exchange rates; (vi)
metals sales prices and exchange rate assumed; (vii) appropriate
discount rates applied to the cash flows in the economic analysis
in the 2019 preliminary economic assessment for the Springpole Gold
Project; (viii) tax rates and royalty rates applicable to the
proposed mining operation; (ix) the availability of acceptable
financing under assumed structure and costs; (x) metallurgical
performance; (xi) reasonable contingency requirements; (xii)
success in realizing proposed operations; (xiii) receipt of permits
and other regulatory approvals on acceptable terms; (xiv) the
fulfillment of environmental assessment commitments and
arrangements with local communities; and (xv) the additional risks
described in the Company’s Annual Information Form for the
year ended December 31, 2018 filed with the Canadian securities
regulatory authorities under the Company’s SEDAR profile at
www.sedar.com, and in the Company’s Annual Report on Form
40-F filed with the SEC on EDGAR.
First Mining cautions that the foregoing list of factors that may
affect future results is not exhaustive. When relying on our
forward-looking statements to make decisions with respect to First
Mining, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
First Mining does not undertake to update any forward-looking
statement, whether written or oral, that may be made from time to
time by the Company or on our behalf, except as required by
law.
Cautionary Note to United States Investors
This news release has been prepared in accordance with the
requirements of the securities laws in effect in Canada, which
differ from the requirements of U.S. securities laws. Unless
otherwise indicated, all resource and reserve estimates included in
this news release have been prepared in accordance with NI 43-101
and the Canadian Institute of Mining, Metallurgy, and Petroleum
2014 Definition Standards on Mineral Resources and Mineral
Reserves. NI 43-101 is a rule developed by the Canadian Securities
Administrators which establishes standards for all public
disclosure an issuer makes of scientific and technical information
concerning mineral projects. Canadian standards, including NI
43-101, differ significantly from the requirements of the SEC, and
mineral resource and reserve information contained herein may not
be comparable to similar information disclosed by U.S. companies.
In particular, and without limiting the generality of the
foregoing, the term "resource” does not equate to the term
"reserves”. Under U.S. standards, mineralization may not be
classified as a "reserve” unless the determination has been
made that the mineralization could be economically and legally
produced or extracted at the time the reserve determination is
made. The SEC's disclosure standards normally do not permit the
inclusion of information concerning "measured mineral
resources”, "indicated mineral resources” or "inferred
mineral resources” or other descriptions of the amount of
mineralization in mineral deposits that do not constitute
"reserves” by U.S. standards in documents filed with the SEC.
Investors are cautioned not to assume that any part or all of
mineral deposits in these categories will ever be converted into
reserves. U.S. investors should also understand that "inferred
mineral resources” have a great amount of uncertainty as to
their existence and great uncertainty as to their economic and
legal feasibility. It cannot be assumed that all or any part of an
"inferred mineral resource” will ever be upgraded to a higher
category. Under Canadian rules, estimated "inferred mineral
resources” may not form the basis of feasibility or
pre-feasibility studies except in rare cases. Investors are
cautioned not to assume that all or any part of an "inferred
mineral resource” exists or is economically or legally
mineable. Disclosure of "contained ounces” in a resource is
permitted disclosure under Canadian regulations; however, the SEC
normally only permits issuers to report mineralization that does
not constitute "reserves” by SEC standards as in-place
tonnage and grade without reference to unit measures. The
requirements of NI 43-101 for identification of "reserves”
are also not the same as those of the SEC, and reserves reported by
the Company in compliance with NI 43-101 may not qualify as
"reserves” under SEC standards. Accordingly, information
concerning mineral deposits set forth herein may not be comparable
with information made public by companies that report in accordance
with U.S. standards.