Agent Northern Securities to conduct offering on a best-efforts basis
By Devika Patel
Knoxville, Tenn., March 27 - Northern Freegold Resources Ltd. said it will conduct a C$6 million private placement of units on a best-efforts basis. Northern Securities Inc. will be the agent and has a 15% greenshoe.
The company will sell 21,428,571 units of one flow-through common share and one half-share warrant at C$0.28 per unit.
Each whole warrant will be exercisable at C$0.35. The strike price is a 40% premium to the March 26 closing share price of C$0.25.
Proceeds will be used for exploration work on the Freegold Mountain property.
Northern Freegold is a precious metals exploration and development company based in Vancouver, B.C.
| Issuer: | Northern Freegold Resources Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$6 million
|
| Greenshoe: | C$900,000
|
| Units: | 21,428,571
|
| Price: | C$0.28
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.35
|
| Agent: | Northern Securities Inc.
|
| Pricing date: | March 27
|
| Stock symbol: | TSX Venture: NFR
|
| Stock price: | C$0.25 at close March 26
|
| Market capitalization: | C$27.89 million
|
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