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FREDONIA ANNOUNCES CLOSING OF OVERSUBSCRIBED C$7M BEST EFFORTS PRIVATE PLACEMENT
FREDONIA ANNOUNCES CLOSING OF OVERSUBSCRIBED C$7M BEST EFFORTS PRIVATE PLACEMENT Canada N...
About this update from Fredonia Mining, Inc.
[{"type":"text","content":"\n\n\nFREDONIA ANNOUNCES CLOSING OF OVERSUBSCRIBED C$7M BEST EFFORTS PRIVATE PLACEMENT\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES/\nTORONTO, Feb. 4, 2026 /CNW/ - Fredonia Mining Inc. (\"Fredonia\" or the \"Company\") (TSXV: FRED) is pleased to announce that it has closed its previously announced \"best efforts\" private placement, pursuant to which it has issued an aggregate of 17,500,000 units of the Company (the \"Units\") at a price of C$0.40 per Unit for total gross proceeds of C$7,000,000 (collectively, the \"Offering\").\nEach Unit consists of one common share of the Company (each, a \"Unit Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one common share of the Company (each, a \"Warrant Share\") at a price of C$0.56 for the period that is 36 months following February 4, 2026.\nThe Company intends to use the net proceeds from the Offering for the exploration and advancement of the Company's El Dorado Monserrat Project in Santa Cruz province, Argentina, and for general corporate and working capital purposes, all as further described in the amended and restated offering document relating to the Offering.\nThe Offering was led by ATB Cormark Capital Markets (the \"Agent\") as sole agent and bookrunner. In consideration for the services provided by the Agent in connection with the Offering, the Company paid to the Agent an aggregate cash commission equal to 6% of the aggregate gross proceeds of the Offering and issued a number of non-transferable broker warrants equal to 6% of the number of Units sold under the Offering (the \"Broker Warrants\"). Each Broker Warrant is exercisable to purchase one common share at a price of C$0.40 for a period of 36 months following February 4, 2026. The Broker Warrants and common shares issuable on exercise thereof a...