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Fremont Gold Announces Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 21, 2018) - Fremont Gold Ltd. (TSXV: FRE...
About this update from Hayasa Metals Inc.
[{"type":"text","content":"Fremont Gold Announces Private PlacementVancouver, British Columbia--(Newsfile Corp. - March 21, 2018) - Fremont Gold Ltd. (TSXV: FRE) (OTC Pink: USTDF) (\"Fremont\" or the \"Company\") is pleased to announce the offering of a non-brokered private placement of up to 7,500,000 common shares at a price of $0.16 per common share for gross proceeds of up to $1,200,000 (the \"Private Placement\").The securities offered will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press 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 such offer, solicitation or sale would be unlawful.Proceeds of the Private Placement will be used for a minimum total 1000m phase 1 drill program at the Gold Bar and Gold Canyon properties (see Fremont press release dated March 5, 2018) starting in mid-late April depending on snow conditions Management have developed new structural targets at Gold Bar, which hosts a historic resource of 147,000 Au1 (see Fremont News Release dated September 12, 2018).At Gold Canyon the company will be following up targets north of the historic pit where a hole drilled by Atlas Precious Metals Inc. (\"Atlas\") in the 1990's intersected 18.3m (60 ft) @ 3.48 g/t Au2.The Company intends to apply for a drill permit for Hurricane with a view to drilling later in the year.Fremont may pay a finder's fee of up to 7% of the gross proceeds raised in connection with the Private Placement. Closing of the Private Placement and the payment of any finder's fees will be subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four month hold period under Canadian securities laws and the policies of the TSX Venture Exchange, as applicable.BackgroundFremont's Gold Bar and Gold Canyon projects are adjacent to McEwen Mining Inc.'s (\"McEwen\") Gold Bar development project (McEwen's development project and Fremont's property share the same name, however, the historic Gold Bar mine is controlled by Fremont).The Gold Bar mine produced 286,354 ounces of gold from 1986 to 19943 and is five kilometre...