Fura Gems Inc. (TSXV: FURA) intends to complete a private placement offering of common shares of the Company at a price of CAD$0.60 per share for gross proceeds of up to CAD$12.5 million (the “Offering”). In connection with the Offering, Fura has entered into a letter of engagement with Hannam& Partners (“H&P”) appointing H&P as Fura’s financial adviser. The proceeds of the Offering will be used to complete the acquisition of the Coscuez emerald mine, as previously announced on October 29, 2017, and for general corporate purposes.

The closing date of the Offering is expected to occur on or about December 20, 2017 and remains subject to a number of conditions, including without limitation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All Fura common shares issued pursuant to the Offering will be subject to a regulatory hold period of four months and one day.