VANCOUVER, Oct 1 /CNW/ - Freegold Ventures Limited (TSX: FVL Frankfurt:
FR4N)("Freegold") is pleased to announce that it has received subscription
agreements for a non-brokered private placement of 8,975,758 ("Units"), of
which at 7,575,758 units were priced at Cdn$0.33, and 1,400,000 units were
priced @ $0.35 per Unit. Each unit will consist of one common share (a
"Share") and one common share purchase warrant (a 'Warrant"). Each Warrant
will entitle the holder to acquire an additional Share at a price of $0.40 for
a period of one year from the date of closing and at a price of $0.50 between
one year and two years from closing. The issuance of the warrants is subject
to shareholder approval. The closing of this financing will take place as
soon as possible. A finder's fee of 10% will be paid on a portion of the
placement. The foregoing is subject to regulatory approval.
The Company would also like to thank its shareholders for their continued
support.
For further information:
Kristina Walcott-President and CEO Telephone: 1.604.662.7307
jkw@freegoldventures.com
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