First Mining Gold upsizes financing to $25 million to advance Canadian gold projects

First Mining Gold Corp (TSE:FF) (OTCQX:FFMGF) announced it is upsizing its financing to $25 million to fund exploration and development at its portfolio of Canadian gold projects. The Vancouver-based company originally planned to raise $20 million, according to a release Monday afternoon, but announced the upsizing on Tuesday morning. The bought deal is led by Cormark Securities Inc on behalf of a syndicate of underwriters, which will purchase 50 million units priced at $0.50 per unit. READ: First Mining Gold says its earn-in partner at Pickle Crow has already completed required initial exploration spend Each unit consists of one share and one-half of one warrant exercisable at $0.70 for a two-year period following the offering’s close. In addition, First Mining gave the underwriters an option to sell an additional 7.5 million units, which would net the company another $3.75 million and boost the financing’s total proceeds to $28.75 million. Additional proceeds from the offering will go towards potential acquisitions, working capital and general corporate purposes, the firm said in a statement. The offering is expected to close by August 26. --Updated to include details of upsized financing-- Contact Angela at angela@proactiveinvestors.com Follow her on Twitter @AHarmantas