Resolute Mining says it will pay Mali $160 million in tax dispute
The company’s shares in Sydney were suspended on Thursday, after tumbling 40% since news of the detention of CEO Terry Holohan.
Northern Freegold Resources announced that it intends to complete a non-brokered private placement of up to 22,857,142 units at a price of $0.35 per unit, for gross proceeds of up to $8 million. 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.
If requested by finders, the company may accept subscriptions of up to an additional 25% of the offering, for additional gross proceeds of up to $2 million. The additional offering would involve the issuance of up to 5,714,285 additional units.
Northern Freegold is a Canadian-based precious metals exploration and development company that brings local expertise and strong management to focus on the development of economic mineral resources on the district-scale Freegold Mountain gold and copper project in the Yukon and the Burro Creek gold and silver property in Arizona.
Read the full news release here. Picture of core shack is from Northern Freegold Resources.
