Transactions

Transactions

Overview

McFarlane Lake Mining Incorporated Completes Concurrent Private Placements for $6.2 Million

December 10, 2021

McFarlane Lake Mining Incorporated (“McFarlane”), an Ontario based private mineral exploration company, completed a brokered and non-brokered private placement offering of securities (together, the “Offering”), consisting of an aggregate of 7,955,000 units (“Units”) of McFarlane at a price of $0.40 per Unit and an aggregate of 7,717,500 flow-through common shares (“FT Shares”) of McFarlane at a price of $0.40 per FT Share, for combined gross proceeds of approximately $6.2 million.

The brokered portion of the Offering was led by Canaccord Genuity Corp.

The Offering was undertaken in connection with proposed business combination between McFarlane and 1287401 B.C. Ltd. (“128”), pursuant to which it is proposed that 128 will acquire all of the issued and outstanding securities of McFarlane by way of a three-cornered amalgamation involving 1000034047 Ontario Inc., a wholly-owned subsidiary of 128 incorporated under the laws of the Province of Ontario, with such acquisition constituting a reverse take-over of 128.

Wildeboer Dellelce LLP acted for McFarlane in connection with the Offering with a team that included Perry Dellelce, Al Wiens, Niall Sweeney, Nathan Holloway, Emma Weiss and Alex Karlsen (corporate/securities).