Business
Freegold Receives Subscription Agreements for $5.3 Million Private Placement
Freegold Receives Subscription Agreements for $5.3 Million Private Placement
About this update from Freegold Ventures Limited
[{"type":"text","content":"\n\n\n\n Dec. 15, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Dec. 15 /CNW/ - Freegold Ventures Limited (TSX: FVL\n Frankfurt: FR4N)("Freegold") is pleased to announce that it has received subscription agreements\n for a non-brokered private placement of 11,514,217 ("Units"), priced @\n $0.46 per Unit. Each unit will consist of one common share (a "Share")\n and one common share purchase warrant (a 'Warrant").   Each Warrant\n will entitle the holder to acquire an additional Share at a price of\n $0.55 for a period of one year from the date of closing and at a price\n of $0.65 between one year and two years from closing.  The agreement to\n issue 10,869,565 of the Units occurred at a time when the "market\n price" of the common shares (calculated in accordance with TSX\n policies) was less than $0.46 per share.  644,652 of the Units (the\n "Additional Units") were placed on a later date at a time when the\n "market price" was greater than $0.46 per share.\n\n\nPursuant to the requirements of the Toronto Stock Exchange, the issuance\n of 10,869,565 Warrants to purchase common shares is subject to\n shareholder approval as the aggregate number of common shares being\n made issuable under the private placement, is more than the 25% of the\n current issued and outstanding number of shares of Freegold and the\n issuance of the Warrant deems the Units to have been issued at a\n discoun...