Northern Freegold Resources Ltd. (TSXV:NFR,OTCQX:NFRGF,FWB:8N6) closed the first tranche of the private placement that was announced on April 3, 2013, for total gross proceeds of $826,100. A total of 13,768,333 units have been completed.
As quoted in the press release:
Each Unit consists of one common share and one-half of one non-transferable common share purchase warrant (the “Warrants”). Each whole Warrant is exercisable to acquire an additional common share at $0.10 for 36 months.