Business
Freeman Gold Increases Non-Brokered Private Placement to US$ 13 Million
VANCOUVER, BC, Nov. 5, 2021 /CNW/ - Freeman Gold Corp. (CSE: FMAN) (OTCQB: FMANF) (FSE: 3WU) ("Freeman" or the "Company") is pleased to announce an increase to
About this update from Freeman Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Nov. 5, 2021 /CNW/ - Freeman Gold Corp. (CSE: FMAN) (OTCQB: FMANF) (FSE: 3WU) (\"Freeman\" or the \"Company\") is pleased to announce an increase to the previously announced non-brokered private placement (November 01, 2021) from US$10 million to US$13 million. The Company will issue up to 37,142,857 units (the \"Units\") at a price of US$0.35 per Unit. Each Unit will consist of one common share of the Company (each, a \"Share\") and one half (1/2) of one Share purchase warrant (each whole Share purchase warrant, a \"Warrant\"), with each Warrant entitling the holder thereof to purchase one Share for a period of sixty (60) months from closing at a price of US$0.65 per Share. The Company anticipates closing the Offering in late November 2021. The Company intends to use the proceeds from the Offering for project development at its 100% owned Lemhi Project (as defined below), including: resource expansion and definition drilling, engineering, metallurgical and environmental studies, property wide exploration, and for general corporate activities. Completion of the Offering remains subject to the approval of the Canadian Securities Exchange (the \"CSE\"). The Shares, including those underlying the Warrants, and the Warrants issued by the Company under the Offering will be subject to a four month and one day hold from the closing date of the Offering as prescribed by applicable securities laws. Additionally, the Company anticipates making an application to list the Warrants for trading on the CSE following expiration of the statutory hold period applicable to the Warrants. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States nor shall there be any sale of the securities described herein in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), and may not be offered or sold in the United States or to the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) or a person in the Unite...