Fury Gold Mines Ltd 6-K, filed Oct 14, 2022
Fury Gold Mines Ltd (FURY)
About this 6-K
Fury Gold Mines Ltd filed this 6-K on October 14, 2022.
UNITED STATES
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 October 2022
Commission File No. 001-38145
| Fury Gold Mines Limited |
| (Translation of registrant’s name into English) |
1630-1177 West Hastings Street, Vancouver, BC, V6E 2K3 Canada
(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 ☒
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) ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) ☐
SUBMITTED HEREWITH
Exhibits
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SIGNATURE
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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| Fury Gold Mines Limited |
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| Date: October 13, 2022 | By: | /s/ Lynsey Sherry |
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| Lynsey Sherry |
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| Chief Financial Officer |
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EXHIBIT 99.1
Fury Completes the Sale of Dolly Varden Common Shares to an Institutional Investor
VANCOUVER, BC, - October 13, 2022 - Fury Gold Mines Ltd (TSX: FURY, NYSE American: FURY) (“Fury”) is pleased to announce the completion of the share sale transaction announced on October 3, 2022 (the “Transaction”).
Fury sold 17 million common shares at C$0.40 per share in the capital of the Dolly Varden Silver Corporation (“Dolly Varden”), representing approximately 7.4% of the outstanding common shares, to a well known institutional investor. The proceeds of the Transaction will be used to finance continued exploration at Fury’s Eau Claire and Éléonore South Joint Venture projects in Quebec and for general working capital.
Fury’s ownership interest in Dolly Varden has been reduced from 76,504,590 shares, representing 33% of the outstanding common shares of Dolly Varden, to 59,504,590 shares, representing 26% of the outstanding common shares of Dolly Varden. Fury continues to have two nominees on Dolly Varden’s board of directors under its Investor Rights Agreement with Dolly Varden and will continue to hold its remaining shares in Dolly Varden for investment purposes. Fury will evaluate its investment in Dolly Varden on an ongoing basis and may increase or decrease its holdings in Dolly Varden in the future, subject to its rights and obligations under the Investor Rights Agreement, a copy of which has been filed under Fury’s and Dolly Varden’s SEDAR profile.
About Fury Gold Mines Limited
Fury Gold Mines Limited is a well financed Canadian-focused exploration company positioned in two prolific mining regions across the country and holds a 59.5 million common share position in Dolly Varden Silver Corp. Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining. For more information on Fury Gold Mines, visit www.furygoldmines.com.
For further information on Fury Gold Mines Limited, please contact:
Margaux Villalpando, Investor Relations
Tel: (844) 601-0841
Email: info@furygoldmines.com
Website: www.furygoldmines.com
Forward-Looking Information
This release includes certain statements that may be deemed to be "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws, which relate to the future operations of the Company and other statements that are not historical facts. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes". Specific forward-looking information contained in this release primarily relates to statements that suggest the use of proceeds from the Transaction by Fury and Fury’s investment in Dolly Varden. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially.
No regulatory organization has approved the contents hereof.