Northern Freegold Resources Ltd. (CVE:NFR) reports a non-brokered private placement of up to $8 million.
The press release is quoted as saying:
Each unit will consist of a common share and a share purchase warrant, each warrant being exercisable to acquire an additional share at $0.45 for 18 months following the closing.Net proceeds from the private placement will be applied towards advancement of the Company’s Yukon mineral properties and for general working capital purposes.
The company will pay commissions and finders fees of 7% in cash and 7% in finder warrants in connection with the financing. The finder warrants will have the same terms as the warrants forming part of the units.