Freegold Ventures Limited (TSX: FVL) has announced that in connection with its previously announced best efforts private placement offering, the company and Paradigm Capital Inc., have agreed to increase the size of the offering.
The company will now issue up to 42,492,000 units of the company at a price of C$0.85 per unit for total gross proceeds of up to C$36,500,700. Each unit will be comprised of one common share of the company and one half of one common share purchase warrant of the company.
Each Warrant will be exercisable to acquire one common share of the company for 24 months from the closing date at an exercise price of C$1.30 per warrant share. The warrants shall be callable by the company should the daily volume-weighted average trading price of the common shares of the company on the Toronto Stock Exchange exceed C$1.30 for a period of 20 consecutive trading days, at any time during the period (i) beginning on the date that is six months from the closing date of the offering, and (ii) ending on the date the warrants expire.
Following a call trigger, the company may give notice to the holders of the warrants that any warrant that remains unexercised by the holder thereof shall expire 30 days following the date on which the call notice is given.
To find out more, please visit www.freegoldventures.com
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