DENVER, Aug. 13, 2015 /CNW/ - Resource Capital Fund VI L.P. ("RCF") reports that it has purchased 12,500,000 common shares (the "Subject Shares") in the capital of Freegold Ventures Limited ("Freegold") and 3,125,000 Warrants (as defined below) in connection with a non-brokered private placement by Freegold (the "Private Placement") of 13,500,000 units of Freegold (each, a "Unit"). Each Unit consisted of one Freegold common share and one-half of one Freegold common share purchase warrant (each, a "Warrant") exercisable for three years at a price of C$0.15. The Warrants are subject to accelerated expiry if the Freegold common shares trade above $0.30 for 10 consecutive days on the Toronto Stock Exchange.
The Subject Shares were acquired at a price of C$0.10 per Unit, for aggregate gross proceeds paid to Freegold of $1,250,000.00.
Following the completion of the Private Placement, RCF beneficially owns, directly or indirectly, 12,500,000 Freegold common shares, representing approximately 11.98% of Freegold's common shares. Immediately prior to the completion of the Private Placement, RCF did not own, directly or indirectly, any Freegold common shares. RCF acquired the Subject Shares for investment purposes. RCF may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of Freegold.
RCF's ownership figures in this press release of Freegold common shares are presented on a non-diluted basis and prior to giving effect to any exercise of the Warrants held by RCF or other subscribers.
For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Freegold's profile on the SEDAR website www.sedar.com.
SOURCE Resource Capital Fund VI L.P.
For further information: For further information and to obtain a copy of the early warning report, please contact: Resource Capital Fund VI L.P., 1400 Sixteenth Street, Suite 200, Denver, CO, 80202, Telephone: (720) 946-1444, Attn: Molly Campbell