Offering from gold explorer consists of units priced at C$0.33, C$0.35
By Devika Patel
Knoxville, Tenn., Oct. 1 - Freegold Ventures Ltd. said it plans a non-brokered private placement of 8,975,758 units.
The company will sell 7,575,758 of the units at C$0.33 apiece and 1.4 million of the units at C$0.35 apiece for C$2.99 million.
The units consist of one common share and a warrant, with each two-year warrant exercisable at C$0.40 in the first year and at C$0.50 thereafter. The strike prices respectively represent 11.11% and 38.89% premiums over the Sept. 30 closing share price of C$0.36.
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$2.99 million
|
| Units: | 8,975,758
|
| Price: | C$0.33 (for 7,575,758 units), C$0.35 (for 1.4 million units)
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 in the first year, C$0.50 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 1
|
| Stock symbol: | Toronto: FVL
|
| Stock price: | C$0.40 at close Oct. 1
|
| Market capitalization: | C$6.74 million
|
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