Business
Freegold Seeking Shareholder Approval for Issuance of Warrants
Freegold Seeking Shareholder Approval for Issuance of Warrants
About this update from Freegold Ventures Limited
[{"type":"text","content":"\n\n\n\n Oct. 14, 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, Oct. 14 /CNW/ - Freegold Ventures Limited (TSX: FVL\n Frankfurt: FR4N) ("Freegold") is seeking shareholder approval for the warrants to be issued in\n conjunction with its non-brokered private placement of 8,975,758 units\n ("Units"), of which at 7,575,758 Units were priced at Cdn$0.33 per\n Unit, and 1,400,000  Units were priced @ $0.35 per Unit, as announced\n in Freegold's news release of October 1st, 2010. Each Unit consists of one common share (a "Share") and one\n common share purchase warrant (a 'Warrant").   Each Warrant will\n entitle the holder to acquire an additional Share at a price of $0.40\n for a period of one year from the date of closing and at a price of\n $0.50 between one year and two years from closing. Pursuant to the\n requirements of the Toronto Stock Exchange, the issuance of the\n Warrants and the resulting 8,975,758 common shares issuable on exercise\n of the Warrants is subject to shareholder approval as the aggregate\n number of common shares being made issuable under the private\n placement, is more than the 25% of the current issued and outstanding\n number of shares of Freegold and the issuance of the Warrants deems the\n Units to have been issued at a discount to market price of the common\n shares Under the private placement, insiders purchased 137,142 Units\n which, assuming exercise of the Warrants results in a total...