Business
Northern Freegold Resources Ltd. Announces C$4,000,000 Bought Deal Equity Financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Triumph Gold Corp.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\nDISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, May 28 /CNW/ - Northern Freegold Resources Ltd. (TSXV:NFR)\n(the "Company") today announced that it has entered into an agreement with a\nsyndicate of underwriters led by Canaccord Capital Corporation and including\nDundee Securities Corp. and Haywood Securities Inc. (collectively, the\n"Underwriters") to purchase an aggregate of 8,000,000 units of the Company\n(the "Units") at a price of $0.50 per Unit for gross proceeds of $4,000,000 on\na bought deal basis (the "Offering"). Each Unit consists of one common share\n(the "Common Shares") of the Company and one-half warrant with each whole\nwarrant exercisable at a price of $0.75 for a period of 24 months from closing\nof the Offering.\n\n\nIn addition, the Company also announces that it will complete a\nnon-brokered private placement of up to C$3,000,000 comprising of up to\n6,000,000 Units under the same terms as above. The Company anticipates paying\na finders' fee in cash or issuance of Units as per terms of the Unit defined\nabove in conjunction with the non-brokered portion.\n\n\nThe Company has granted the Underwriters an option (the "Over-Allotment\nOption") to purchase up to an additional $1,000,000 of Units to cover\nover-allotments. The Over-Allotment Option shall be exercisable, in whole or\nin part, by the Underwriters 48 hours prior to closing.\n\n\nThe net proceeds of the Offering will be used for general working capital\nas well as ongoing exploration on the Freegold Mountain Project.\n\n\nThe Offering is scheduled to close on or about June 17, 2009 and is\nsubject to certain conditions including, but not limited to, the receipt of\nall necessary approvals including the approval of the TSX and the securities\nregulatory authorities.\n\n\nThe Common Shares to be issued under this Offering will be offered on a\nprivate placement basis in applicable provinces in Canada and in the United\nStates pursuant to an exemption from the registration requirements of the\nUnited States Securities Act of 1933, as amended (the "1933 Act"), and such\nother jurisdictions as may be agreed upon by the Company and the Underwriters.\n\n\nThe Common Shares will not be and have not been registere...