By Devika Patel
Knoxville, Tenn., June 16 - Northern Freegold Resources Ltd. announced it settled a units financing, raising C$5 million. The deal priced for C$4 million with a C$1 million greenshoe on May 28, alongside a C$3 million non-brokered deal, which the company expects to settle on June 17.
The company sold 10 million units at C$0.50 per unit. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.75 for two years.
The units were sold on a bought-deal basis through a syndicate of underwriters led by Canaccord Capital Corp. and including Dundee Securities Corp. and Haywood Securities Inc.
Proceeds will be used for exploration.
Northern Freegold is a resource exploration and development company based in Vancouver, B.C.
| Issuer: | Northern Freegold Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5 million (including C$1 million greenshoe)
|
| Units: | 10 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agents: | Canaccord Capital Corp. (lead), Dundee Securities Corp. and Haywood Securities Inc.
|
| Pricing date: | May 28
|
| Settlement date: | June 16
|
| Stock symbol: | TSX Venture: NFR
|
| Stock price: | C$0.50 at close May 27
|
| Market capitalization: | C$37 million
|
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