The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Freegold Ventures Ltd. May 2 said it has filed a preliminary short form prospectus in connection with plans to raise at least C$3 million.
The offering will be conducted on a best-effort basis through Paradigm Capital Inc., acting as agent.
The company is offering between 16.67 million and 55.56 million units at C18 cents each.
This will raise a minimum of C$3 million and up to C$10 million, if the maximum offering is completed.
Each unit consists of one Freegold share and one-half of a purchase warrant.
Each warrant entitles the holder to purchase one additional Freegold share at C25 cents for a period of three years.
Freegold said it intends to spend net proceeds of the offering on exploration and metallurgical work to be completed at its Golden Summit and Shorty Creek projects in Interior Alaska and for general working capital purposes.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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