Freegold Ventures Limited (TSX:FVL | OTCQX: FGOVF) has entered into an agreement with Paradigm Capital Inc., in connection with a proposed best efforts private placement financing for total proceeds of a minimum of C$5.0M and up to a maximum of C$7.5M, consisting of a minimum of 12,500,000 units and up to a maximum of 18,750,000 units of the company at a price of C$0.40 per unit. Each unit will be comprised of one common share and one half of one common share purchase warrant of Freegold Ventures. Each whole common share purchase warrant will be exercisable for two years from the closing date at an exercise price of C$0.52 per common share.
The net proceeds from the offering will be used for general corporate and working capital purposes.
The offering is expected to close on or about 26 March 2024 and will be subject to regulatory approvals and customary closing conditions, including listing of the common shares on the Toronto Stock Exchange.
The agent is entitled, on the closing date, to a cash commission equal to 7% of the gross proceeds of the offering and will receive broker warrants entitling the agent, from time to time for a period of two years from the closing date, to acquire that number of common shares that is equal to 7% of the number of units issued pursuant to the offering, at an exercise price equal to the volume weighted average trading price of the common Shares on the TSX for the five trading days immediately preceding the date hereof.
To read more about this, please visit www.freegoldventures.com
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