- Fremont Gold (FRE) has announced the offering of a non-brokered private placement of up to 12,500,000 common shares
- The shares will be sold at a price of $0.12 per share for gross proceeds of up to $1,500,000
- The non-brokered private placement is expected to close by June 24, 2022
- Fremont plans to use the net proceeds of the private placement for a minimum 1,500m drill program at Cobb Creek
- Fremont is a mineral exploration company with a portfolio of gold projects in Nevada
- Fremont Gold Ltd. remained unchanged at $0.15 at 9:44 AM ET
Fremont Gold (FRE) has announced a non-brokered private placement for gross proceeds of up to $1,500,000.
The company will issue up to 12,500,000 common shares at a price of $0.12 per share.
The non-brokered private placement is expected to close by June 24, 2022.
Fremont plans to use the net proceeds to fund a 1,500m drill program at Cobb Creek, and for general working capital.
A portion of the proceeds will also be used to evaluate mineral properties outside North America, including applications for gold-copper prospects in the Tethyan Mineral Belt.
Several such prospects have been identified, with one currently under application and several others being evaluated. Licensing usually takes two to three months.
Fremont may pay a finders’ fee of up to 6 per cent of the gross proceeds raised in connection with the placement.
All securities issued will be subject to a four-month hold period.
Fremont Gold Ltd is a Canadian exploration company engaged in acquiring and exploring mineral properties.
Fremont Gold Ltd. remained unchanged at $0.15 at 9:44 AM ET.
