Freegold Ventures Secures $42 Million in Private Placement Financing

Freegold Ventures ( (TSE:FVL) ) just unveiled an update.

Freegold Ventures Limited announced the closing of a $42 million brokered private placement financing, with Paradigm Capital acting as the sole agent. The proceeds will be used primarily for advancing the Golden Summit project, with drilling expected to resume next month and an updated Mineral Resource Estimate anticipated later in the second quarter. Eric Sprott, through an entity he controls, purchased 30% of the units issued, marking a significant related party transaction. The offering is subject to final approval by the Toronto Stock Exchange, and all securities issued will have a hold period of four months and one day.

More about Freegold Ventures

Freegold Ventures Limited is a TSX-listed company focused on exploration in Alaska, holding the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

YTD Price Performance: 1.20%

Average Trading Volume: 290,917

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$398.7M

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