By Laura Lutz
Washington, Dec. 5 - Northern Freegold Resources Ltd. intends to complete a private placement of flow-through units for up to C$3.4 million.
The company plans to sell up to 4 million units of one flow-through share and one half-share non flow-through warrant. Each whole warrant will be exercisable at C$1.10 for 18 months.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares is at least C$1.25 for 10 consecutive trading days.
The deal will be non-brokered.
Settlement is expected on Dec. 21.
Proceeds will be use for exploration on the company's Freegold Mountain project in the Yukon Territory.
Northern Freegold is a resource exploration and development company based in Vancouver, B.C.
| Issuer: | Northern Freegold Resources Ltd.
|
| Issue: | Units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$3.4 million
|
| Units: | 4 million
|
| Price: | C$0.85
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.10
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 21
|
| Stock symbol: | TSX Venture: NFR
|
| Stock price: | C$0.68 at close Dec. 5
|
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