Northern Freegold Resources Ltd. (TSXV:NFR,OTCQX:NFRGF,FWB:8N6) closed the final tranche of its private placement of 12,289,999 units, for a total of $737,400 at $0.06 per unit. In total, the private placement consisted of 26,058,332 units and raised aggregate gross proceeds of $1,563,500.

As quoted in the press release:

The financing was initially announced for up to $1 million but was increased due to demand.

Each Unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant (“Warrant”) is exercisable to acquire an additional common share at $0.10 for 36 months.

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