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Freegold Ventures announces closing of equity financing
Freegold Ventures announces closing of equity financing Freegold Ventures announce...
About this update from Freegold Ventures Limited
[{"type":"text","content":"\n\n\n\nFreegold Ventures announces closing of equity financing\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\n\nFreegold Ventures announces closing of equity financing\nCanada NewsWire\nVANCOUVER, May 20, 2016\n\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, May 20, 2016 /CNW/ - Freegold Ventures Limited (\"Freegold\" or the \"Corporation\") (TSX:FVL) is pleased to announce that it has closed its previously announced marketed public offering (the \"Offering\") of units (the \"Units\") of the Corporation for total gross proceeds of $7,283,118. The Corporation has issued 40,461,766 Units at a price of $0.18 per Unit. The Offering was completed through Paradigm Capital Inc. (the \"Agent\"), acting as agent.\n\nEach Unit consists of one common share in the capital of Freegold and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder thereof to purchase one common share at any time prior to 5:00 p.m. (Toronto time) on the date that is 3 years following the closing date of the Offering at a price of $0.25.\n\nThe Corporation has also granted the Agent an option to cover over-allotments and for market stabilization purposes (the \"Over Allotment Option\"), which will allow the Agent to arrange for purchasers to acquire up to an additional 15% of the Units issued pursuant to the Offering. The Over Allotment Option will be exercisable, in whole or in part, at any time until noon (Toronto time) on the 30th day following the closing of the Offering.\n\nThe Corporation intends to use the net proceeds of the Offering for exploration and metallurgical work to be completed at the Corporation's Golden Summit and Shorty Creek projects in Alaska and for general working capital purposes.\n\nThe Offering was completed pursuant to the Final Short Form Prospectus of the Corporation dated May 13, 2016 (the \"Prospectus\") which has been filed in each of the provinces of Alberta, British Columbia and Ontario. The Prospectus contains...