- Fredonia Mining (FRED) will upsize its private placement for total gross proceeds of $3,550,500
- The company will issue 19,725,000 units at a price of $0.18 per unit
- Paradigm Capital Inc. has been granted an over-allotment option
- The offering is expected to close on or about April 27, 2022
- Fredonia Mining Inc. (FRED) is currently trading at C$0.20 per share
Fredonia Mining (FRED) will upsize its private placement for total gross proceeds of $3,550,500.
The company will issue 19,725,000 units at a price of $0.18 per unit. Each unit will include one common share and one common share purchase warrant. Each warrant will be exercisable for one additional share for five years from the closing date.
The agent, Paradigm Capital Inc., has been granted the option to sell up to an additional 15 per cent of the base offering.
The net proceeds will be used to fund ongoing exploration, updating technical studies, and general corporate purposes.
The offering is expected to close on or about April 27, 2022.
Fredonia Mining Inc is engaged in the exploration of precious metals in Argentina.
Fredonia Mining Inc. (FRED) is currently trading at C$0.20 per share.
