By Laura Lutz
Washington, Dec. 7 - Northern Freegold Resources Ltd. intends to complete a non-brokered private placement for up to C$630,000.
The company plans to sell up to 900,000 units of one share and one half-share warrant at C$0.70 per unit. 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 company's shares close at or above C$1.25 for 10 consecutive trading days.
The new placement will be offered concurrently with the C$3.4 million flow-through placement that the company priced on Tuesday. That placement is set to close on Dec. 21.
Proceeds will be used for working capital and exploration on the company's Mount Freegold project.
Northern Freegold is a resource exploration and development company based in Vancouver, B.C.
| Issuer: | Northern Freegold Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$630,000
|
| Units: | 900,000
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.10
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 7
|
| Stock symbol: | TSX Venture: NFR
|
| Stock price: | C$0.70 at close Dec. 7
|
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