Freegold Ventures
Freegold is a Canadian gold exploration and development company which has assembled a senior, production-orient-ed management team over the past two years. Freegold's team has an excellent track record, having taken 5 companies to production in the past, and having created over $1 billion of new market capitalization in the process. This team has collectively been involved in the start-up, acquisition, financial turnaround and operation of 11 separate gold producers, with an aggregate production of 1,535,000 oz gold and 9,600,000 oz silver. With this experience, an excellent portfolio of North American projects, new supportive shareholders including Sprott Asset Management and Rob McEwen, and a sound capital/financial structure, Freegold is well along its own path to sustained gold production. Freegold's current assets include three advanced-stage gold projects: the Almaden project in Idaho, and the Golden Summit and Vinasale projects in Alaska. In addition Free-gold is actively exploring its Rob project, an early-stage exploration project also in Alaska.
Freegold Ventures to raise US$17million
Freegold Ventures (TSX: ITF - OTCBB: FGOVF - Frankfurt: FR4) a Canadian gold exploration and development company, with three advanced-stage gold projects in the USA, has entered into an agency agreement for a debt financing, on a best-efforts basis for up to US $17-million (gross proceeds).
Each consists of a transferable senior secured note for US$1,000 maturing in two years, plus a share purchase warrant for Freegold Ventures, which entitle holders to purchase up to 500 shares at an exercise price of $1.20 per share within five years of the closing date. The warrants are subject to an acceleration clause and the notes bear interest at 15 % per year.
Other Freegold Ventures articles
Other Freegold Ventures news
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12/08/08 Freegold Ventures takes interest in Rob Property to 100%
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17/06/08 Freegold reports good results from bulk sampling at Gold Summit
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13/06/08 Freegold Ventures resumes bulk sampling at Golden Summit
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23/04/08 Freegold Ventures intersects new high grade structures
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08/04/08 Freegold Ventures confirms continuity in gold vein swarm
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31/03/08 Freegold Ventures beefs up board of directors
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13/03/08 Freegold Ventures confirms gold mineralization
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28/02/08 Freegold Ventures starts Phase 2 drillling at Golden Summit