Source: The Northern Miner
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  • Fremont Gold (FRE) has closed a non-brokered private placement for gross proceeds of $1,200,919.92
  • The company issued 10,007,666 shares for $0.12 per share
  • Net proceeds will be used primarily to fund a proposed drill program at Cobb Creek
  • Fremont Gold is a Canadian exploration company
  • Fremont Gold Ltd. (FRE) opened trading at C$0.12

Fremont Gold (FRE) has closed its previously announced non-brokered private placement for gross proceeds of $1,200,919.92.

The company issued 10,007,666 shares for $0.12 per share.  

Net proceeds will be used to fund a proposed drill program at Cobb Creek, the evaluation and application for gold-copper prospects in the Tethyan Mineral Belt in Armenia, and general working capital.

Dennis Moore, President and CEO of Fremont, commented on the capital raise.

“We are pleased that nearly all of the subscribers are existing shareholders that have supported the company over the past few years. I also would like to thank them for supporting the company’s vision in this current tough market. The funds raised will be used for exploration at Cobb Creek as well as the acquisition of exciting new gold-copper properties identified by Fremont management.”

No finders’ fees were paid in connection with the offering.

All securities issued are subject to a statutory four-month hold period.

Fremont Gold is a Canadian exploration company engaged in acquiring and exploring mineral properties.

Fremont Gold Ltd. (FRE) opened trading at C$0.12.

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