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Gross proceeds of ~A$180M (before costs)
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PERTH, Australia, Sept. 03, 2026 (GLOBE NEWSWIRE) — FireFly Metals Ltd (ASX: FFM, TSX: FFM) (FireFly or the Company) is pleased to announce that it has completed the equity raising announced on 25 and 26 August 2026 (24 and 25 August 2026 in Canada) and comprising the following (Equity Raising):
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- A$150 million (~C$149.0 million)1 institutional placement at a price of A$1.78 per share (ASX Placement), which completed on 2 September 2026 (1 September 2026 in Canada); and
- ~A$30 million2 (~C$29.6 million) bought deal offering at a price of C$1.76 per share (TSX Bought Deal), which completed on 3 September 2026.
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The Company has now received gross proceeds from the Equity Raising of ~A$180M (~C$178.6M) (before costs).
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TSX Bought Deal
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Pursuant to the most recently completed aspect of the Equity Raising, the TSX Bought Deal, FireFly issued 16,820,454 ordinary shares (Ordinary Shares) pursuant to the terms of an underwriting agreement dated 3 September 2026 (Underwriting Agreement) between the Company and BMO Nesbitt Burns Inc. acting as lead underwriter and sole bookrunner and RBC Dominion Securities Inc., CIBC World Markets Inc. and Canaccord Genuity Corp. (collectively, the Underwriters).
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The Ordinary Shares issued in connection with the TSX Bought Deal were issued pursuant to the Listed Issuer Financing Exemption available under Part 5A of National Instrument 45-106 – Prospectus Exemptions as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption and will not be subject to a statutory hold period in Canada.
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Share Purchase Plan
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In addition to the Equity Raising, FireFly intends to offer to eligible shareholders who were registered as a holder of Ordinary Shares as at 5:00pm (AWST) on 24 August 2026 (Record Date) and whose registered address is in Australia or New Zealand (Eligible Shareholders) the opportunity to participate in a non-underwritten share purchase plan (SPP) and subscribe for a maximum of A$30,000 worth of new fully paid Ordinary Shares in the capital of FireFly (SPP Shares) at an issue price per SPP Share of A$1.78, being the same price per Ordinary Share as the ASX Placement. The SPP is targeted to raise up to a further A$10 million (before costs).
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The Company reserves the right to scale back applications under the SPP if demand exceeds A$10 million, to accept oversubscriptions or to close the SPP at an earlier date in accordance with the ASX Listing Rules and the Corporations Act 2001 (Cth) (Corporations Act). The SPP offer is expected to be made available to eligible shareholders on 4 September 2026 and is expected to close on 23 September 2026.
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An updated indicative timetable for the SPP is as follows:
Article contentEventDate (2026)Record
Date (5.00pm AWST)Monday, 24 AugustAnnouncement
of SPP offerTuesday, 25 AugustDespatch of SPP offer document to Eligible Shareholders
SPP offer opening dateFriday, 4 SeptemberSPP offer
closing
date (5.00pm AWST)Wednesday, 23 SeptemberAnnouncement of SPP offer results
Issue of SPP Shares
Application for quotation of SPP SharesWednesday, 30 SeptemberCommencement of trading of SPP SharesThursday, 1 OctoberArticle content
Note: This timetable is indicative only and is subject to change. The Company reserves the right to alter the above dates at any time, including amending the period for the SPP offer or accepting late applications, either generally or in particular cases, at its discretion and without notice to you, subject to the ASX Listing Rules, the Corporations Act and any other applicable rules. The commencement of trading and quotation of SPP Shares is subject to ASX confirmation.