FireFly Metals Ltd. announced a successful equity raising which ensures the company is set for substantial ongoing growth through its Green Bay Copper-Gold Project in Canada.

FireFly has received firm commitments to raise up to around A$95 million (before costs) by the issue of up to approximately 94.7 million fully paid ordinary shares in the company under the equity raising. By utilising the Canadian flow-through provisions, the Company will receive an average price of A$1 per New Share, which is a discount of just 2.9 percent to the last sale price.

Canaccord Genuity is acting as the sole lead manager and bookrunner to the institutional placement, and on the block trade component of the charity flow-through placement. Euroz Hartleys Limited and Argonaut Securities Pty Ltd are acting as co-managers to the institutional placement.

BMO Capital Markets is acting as the sole underwriter and bookrunner to the Canadian offering.

Hamilton Locke is acting as Australian legal advisor to FireFly and Osler, Hoskin & Harcourt LLP is acting as Canadian legal advisor.