2 March 2023
VANCOUVER, Canada – March 2, 2023 – Fury Gold Mines Limited (TSX: FURY, NYSE American: FURY) (“Fury” or the “Company”) is pleased to announce that, in connection with its previously announced bought deal private placement financing (the “Offering”), it has entered into an amended agreement with Haywood Securities Inc., on behalf of itself and a syndicate of underwriters (collectively, the “Underwriters”) to increase the size of the Offering to 6,076,500 common shares of the Company that qualify as “flow-through shares” as defined under subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec) (the “FT Shares”) at a price of C$1.44 per FT Share (the “Issue Price”) to be sold on a charitable flow-through basis, representing total gross proceeds to the Company of C$8,750,160.
In addition, the Company has agreed to grant to the Underwriters an over-allotment option (the “Over-Allotment Option”) exercisable, in whole or in part, at the sole discretion of the Underwriter, to purchase up to an additional C$1,249,840 worth of FT Shares (representing the balance available under the LIFE Exemption, as defined below) at the Issue Price for a period of up to 48 hours prior to closing of the Offering.
The FT Shares will be offered to purchasers pursuant to the listed issuer financing exemption (“LIFE Exemption”) under Part 5A of NI 45-106 in all of the provinces of Canada, including Québec, and therefore will not be subject to resale restrictions pursuant to applicable Canadian securities laws.