Fremont Increases Financing to $2.0 Million with a Lead Order from Palisades Goldcorp

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[{"type":"text","content":"Fremont Increases Financing to $2.0 Million with a Lead Order from Palisades GoldcorpVancouver, British Columbia--(Newsfile Corp. - October 19, 2020) - Fremont Gold Ltd. (TSXV: FRE) (FSE: FR2) (OTCQB: FRERF) (\"Fremont\" or the \"Company\") is pleased to announce that it has increased the size of its previously announced non-brokered private placement (see October 16, 2020, news release) from $1,000,000 to $2,000,000 with a lead order from Palisades Goldcorp Ltd. (\"Palisades\"). The non-brokered private placement will be comprised of up to 40,000,000 units at a price of $0.05 per unit for gross proceeds of up to $2,000,000 (the \"Private Placement\"). Palisades has agreed to purchase $500,000 of the units as part of a minimum $1,000,000 financing. Net proceeds of the Private Placement will be used for a drill program at the North Carlin gold project, located at the northern end of the prolific Carlin Trend, Nevada, exploration at the Cobb Creek gold project, located at the northern end of the Independence Trend, Nevada, and for general working capital.Private placementThe non-brokered private placement will be comprised of up to 40,000,000 units at a price of $0.05 per unit (the \"Units\") for gross proceeds of up to $2,000,000Each Unit will be comprised of a common share of the Company and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase one common share at a purchase price of $0.10 for a period of 36 months following the closing of the Private Placement. Fremont may pay a cash finder's fee equivalent to up to 6% of the gross proceeds of the Private Placement and issue share purchase warrants (the \"Finder's Warrants\") to finders, equivalent to up to 6% of the number of common shares included in the private placement. Each Finder's Warrant will entitle the holder to purchase one common share of the Company at a purchase price of $0.10 for a period of up to 36 months following closing of 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. 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.A...

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