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Freegold Ventures Provides Additional Details Regarding Its Proposed Equity Financing
Freegold Ventures Provides Additional Details Regarding Its Proposed Equity Financing ...
About this update from Freegold Ventures Limited
[{"type":"text","content":"\n\n\n\nFreegold Ventures Provides Additional Details Regarding Its Proposed 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 Provides Additional Details Regarding Its Proposed Equity Financing\nCanada NewsWire\nVANCOUVER, May 5, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, May 5, 2016 /CNW/ - Freegold Ventures Limited (\"Freegold\" or the \"Corporation\") (TSX:FVL) is pleased to announce that it will file an amended and restated preliminary short form prospectus to provide additional details concerning its previously announced proposed marketed offering of units (the \"Units\"). The Corporation will offer a minimum of 16,666,667 (the \"Minimum Offering\") and a maximum of 55,555,555 Units (the \"Maximum Offering\") at a price of $0.18 per Unit for aggregate gross proceeds of $3,000,000 if the Minimum Offering is completed and aggregate gross proceeds of $10,000,000 if the Maximum Offering is completed (collectively, the \"Offering\"). The Offering is being conducted on a best efforts basis 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 agreed to grant 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 number of Units initially sold under 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 Off...