- Fredonia Mining (FRED) has closed its upsized $4 million brokered private placement for gross proceeds of approximately $4,069,220.22
- The company issued a total of 22,606,779 units at a price of $0.18 per unit
- Fredonia Mining will use the net proceeds to fund ongoing exploration
- Fredonia Mining Inc is engaged in the exploration of precious metals in Argentina
- Fredonia Mining Inc. (FRED) is unchanged, trading at C$0.25 per share at 10:15 am ET
Fredonia Mining (FRED) has closed its upsized $4 million brokered private placement for gross proceeds of approximately $4,069,220.22.
The company issued a total of 22,606,779 units at a price of $0.18 per unit.
Each unit includes one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of $0.28 for a period of five years from the closing date of the offering.
The offering was led by Paradigm Capital Inc. as the sole agent and bookrunner. Paradigm received compensation consisting of 1,485,213 units and 1,582,475 broker warrants.
Fredonia Mining will use the net proceeds to fund ongoing exploration, updating technical studies, and for general corporate purposes.
Fredonia Mining Inc is engaged in the exploration of precious metals in Argentina.
Fredonia Mining Inc. (FRED) is unchanged, trading at C$0.25 per share at 10:15 am ET.