Northern Freegold Announces Financing
22 October 2010 - 7:36AM
Marketwired
Northern Freegold Resources Ltd. (TSX VENTURE: NFR) is pleased to
announce that they are arranging a private placement financing of
up to 6,666,666 Units at a price of $0.30 and 4,285,714
flow-through common shares at a price of $0.35 for a total of
$3,500,000. Each Unit shall consist of one common non flow-through
share of the Company and one half of a warrant priced at $0.45 for
a period of 12 months from the closing date.
The Company will pay finders' fees in connection with the
financing. The private placement is subject to approval by the TSX
Venture Exchange. Net proceeds from the private placement will be
applied towards advancement of the Company's Yukon mineral
properties and for general working capital purposes.
Northern Freegold is a rapidly advancing Canadian-based precious
metals exploration and development company that brings local
expertise and strong management to focus on the development of
economic mineral resources on the district-scale Freegold Mountain
gold and copper project in the Yukon and the Burro Creek gold and
silver property in Arizona.
Northern Freegold Resources Ltd.
On behalf of the Board of Directors
Bill Harris, Chairman & COO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Northern Freegold Resources Ltd. Julie Hajduk Investor
Relations Manager 1-877-893-8757 or 604-893-8757 604-893-8758 (FAX)
www.northernfreegold.com
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