FireFly Metals Ltd (ASX/TSX: FFM) has announced the results of its Share Purchase Plan (SPP), which closed on 23 September 2026 and raised approximately A$4.975 million from 333 eligible shareholders. The SPP was conducted at the same issue price of A$1.78 per share as the company's concurrent institutional placement, part of a broader ~A$180 million equity raising. The additional funds are intended to support development and exploration activities at the Green Bay Copper-Gold Project in Newfoundland, Canada, with new shares scheduled for issuance on 30 September 2026.

Key Points

  • FireFly Metals Ltd (ASX/TSX: FFM) announced SPP results on 29 September 2026
  • The SPP raised A$4,975,000 from 333 eligible shareholders at A$1.78 per share
  • 2,794,621 new fully paid ordinary shares to be issued 30 September 2026, trading from 1 October 2026
  • Investors may watch how total proceeds fund Green Bay underground development and feasibility studies

SPP Results and Broader A$180 Million Equity Raising Context

The SPP allowed eligible shareholders to apply for up to A$30,000 worth of new shares at A$1.78 each, matching the institutional placement price. FireFly received valid applications totalling A$4,975,000. The SPP formed part of the company's broader equity raising, which comprised an A$150 million (~C$149.0 million) institutional placement completed 2 September 2026 and a ~A$30 million (~C$29.6 million) TSX bought deal completed 3 September 2026, bringing total funds raised across the entire equity raising to approximately A$180 million.

New Share Issuance and Shareholder Registry Timeline

FireFly confirmed that 2,794,621 new fully paid ordinary shares will be issued on 30 September 2026 and are expected to commence trading on 1 October 2026. Holding statements for issuer-sponsored shareholders will be despatched within five business days following 1 October 2026, while CHESS Holding Statements will be issued at month end in accordance with ASX Listing Rules. The company has recommended that shareholders confirm their actual holdings before trading in new shares issued under the SPP.

Planned Use of Proceeds at the Green Bay Copper-Gold Project

FireFly's disclosure outlines several intended uses for the total equity raising proceeds, including underground development for drilling platforms, ventilation and electrical upgrade works, surface early works, and regional exploration drilling. The company also indicated that funds will support a Definitive Feasibility Study on a 1.8 million tonne per annum base case and a Pre-Feasibility Study on a 4.6 million tonne per annum alternative case, alongside working capital to provide operational flexibility. The Green Bay project hosts 60.2 Mt of Measured and Indicated Mineral Resources at 2.43% copper equivalent.