Business
Freeman Gold Corp. Announces Upsize of Previously Announced Bought Deal Public Offering to $9 Million
VANCOUVER, BC, June 24, 2020 /CNW/ - Freeman Gold Corp. (CSE: FMAN) (FSE: 3WU) (the "Company" or "Freeman") is pleased to announce that it has entered into an a
About this update from Freeman Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, June 24, 2020 /CNW/ - Freeman Gold Corp. (CSE: FMAN) (FSE: 3WU) (the \"Company\" or \"Freeman\") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and Stifel GMP, as co-lead underwriters, on behalf of a syndicate of underwriters (the \"Underwriters\") to increase the size of its previously announced bought deal financing from $6.5 million to $9 million (the \"Offering\"). Pursuant to the amended terms, the Underwriters have agreed to purchase 18,000,000 common shares of the Company (\"Shares\"), on a bought deal basis pursuant to the filing of a short form prospectus, at a price of $0.50 per Share (the \"Issue Price\"). The Company has granted the Underwriters an option to purchase up to an additional 2,700,000 Shares at the Issue Price, exercisable at any time, for a period of 30 days after and including the closing of the Offering. If this option is exercised in full, the Company will receive an additional $1,350,000 in gross proceeds for total aggregate gross proceeds of $10,350,000. The Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada except Quebec and may also be offered by way of private placement in the United States and in such other jurisdictions outside of Canada and the United States as agreed between the Company and the Underwriters. The Offering is expected to close on or about July 15, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange (the \"CSE\") and the applicable securities regulatory authorities. Freeman intends to use the proceeds of the Offering for exploration work on the Company's Lemhi Gold Project in Idaho, USA and its Comstock Property in British Columbia, Canada with additional proceeds utilized for general and administrative expenses and working capital. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which ...