Offering from gold explorer consists of equity units priced at C$0.46
By Devika Patel
Knoxville, Tenn., Dec. 15 - Freegold Ventures Ltd. said it will conduct a non-brokered private placement of units. It has received subscriptions to raise C$5.3 million.
The company will sell 11,514,217 units at C$0.46 apiece. The units consist of one common share and a warrant, with each two-year warrant exercisable at C$0.55 in the first year and at C$0.65 in the second year. The strike prices respectively represent 7.84% and 27.45% premiums over the Dec. 14 closing share price of C$0.51.
Freegold is a gold exploration company based in Vancouver, B.C.
| Issuer: | Freegold Ventures Ltd.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$5,296,540
|
| Units: | 11,514,217
|
| Price: | C$0.46
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.55 in the first year, C$0.65 in the second year
|
| Agent: | Non-brokered
|
| Announcement date: | Dec. 15
|
| Stock symbol: | Toronto: FVL
|
| Stock price: | C$0.50 at close Dec. 15
|
| Market capitalization: | C$12.92 million
|
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