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FREEGOLD ANNOUNCES CLOSING OF $10 MILLION BROKERED PRIVATE PLACEMENT FINANCING
FREEGOLD ANNOUNCES CLOSING OF $10 MILLION BROKERED PRIVATE PLACEMENT FINANCING Canada N...
About this update from Freegold Ventures Limited
[{"type":"text","content":"\n \n \n \n FREEGOLD ANNOUNCES CLOSING OF $10 MILLION BROKERED PRIVATE PLACEMENT FINANCING\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 26, 2024\n \n \n /CNW/ - Freegold Ventures Limited (TSX: FVL) (\"\n \n Freegold\n \n \" or the \"\n \n Company\n \n \"), is pleased to announce that further to its news release of\n \n March 8, 2024\n \n , the Company has closed its upsized brokered private placement offering for aggregate gross proceeds of\n \n $10,000,000\n \n ). Paradigm Capital acted as sole agent (the \"\n \n Agent\n \n \") on the Offering.\n \n \n In connection with the Offering, the Company entered into an agency agreement (the \"\n \n Agency Agreement\n \n \") dated\n \n March 26, 2024\n \n , between the Company and the Agent. In accordance with the Agency Agreement, 25,000,000 units of the Company (the \"\n \n Units\n \n \") were issued at a price of\n \n $0.40\n \n per Unit. Each Unit is comprised of one common share of the Company (a \"\n \n Unit Share\n \n \") and one-half of one common share purchase warrant of the Company (each whole warrant, a \"\n \n Warrant\n \n \"). Each Warrant is exercisable to acquire one common share of the Company (a \"\n \n Warrant Share\n \n \") for 24 months from today's date at an exercise price of\n \n $0.52\n \n per Warrant Share.\n \n \n The Company intends to use the net proceeds from the Offering to fund exploration activities on the Company's mineral projects in\n \n Alaska\n \n , and for general working capital and corporate purposes.\n \n \n Mr.\n \n Eric Sprott\n \n , through 2176423 Ontario Ltd., a corporation beneficially owned and controlled by him, acquired 6,750,000 Units in the Offering for total consideration of\n \n $2,700,000\n \n .  Prior to the Offering, Mr. Sprott beneficially owned or controlled 114,103,056 Shares and 6,875,000 Warrants representing approximately 27.1% of the outstanding Shares on a non-diluted basis and 28.2% on a partially-diluted basis assuming the exercise of such Warrants. Following the compl...