Freegold Ventures Limited (TSX: FVL) has announced that due to investor demand, the company and Paradigm Capital Inc. have agreed to increase the size of Freegold Ventures’ previously announced best efforts private placement offering.
The amended offering is now for 25,000,000 units of the company at a price of C$0.40 per unit for total gross proceeds of C$10,000,000. 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$0.52 per warrant share.
The net proceeds from the offering will be used for general corporate and working capital purposes.
The units will be offered for sale in each of the provinces of Canada, other than Quebec, pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions. The company has filed a Form 45-106F19 with the securities commissions or similar regulatory authorities in each of the provinces of Canada, other than Quebec. As the offering is being completed pursuant to the Listed Issuer Financing Exemption, the units issued in the offering will not be subject to a hold period pursuant to applicable Canadian securities laws.
To find out more about this, please visit www.freegoldventures.com
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