Northern Freegold Increases Private Placement

 Northern Freegold Resources Ltd. (TSXV:NFR,OTCQX:NFRGF,FWB:8N6) increased its previously announced non-brokered private placement to up to 25,000,000 units, for total gross proceeds of up to $1,500,000, at a price of $0.06 a unit. The Company received a subscription agreement from Sino-Canada Natural Resources Fund I, who has subscribed for 8,333,333 units to make an equity investment of $500,000.

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.

The Company has received a subscription agreement from Sino-Canada Natural Resources Fund I to make an equity investment of $500,000. Under the terms of the agreement Sino-Canada has subscribed for 8,333,333 Units of the Company at a price of $0.06.

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