05:23 PM EST, 12/18/2025 (MT Newswires) -- Freegold Ventures ( FGOVF ) after trade Thursday said it entered into an agreement with a syndicate of agents in connection with a proposed brokered best-efforts private placement financing for total gross proceeds of near $30 million.

The company is looking to place 23.08-million shares priced at $1.30 each, with its agents granted a 15% over-allotment option.

Proceeds from the offering will be used to complete a pre-feasibility study for the Golden Summit Project, to support ongoing exploration, and for general corporate and working capital purposes. Management believes that these funds will further strengthen the company's ability to advance the Golden Summit Project as it moves the project through the pre-feasibility stage.

Freegold ( FGOVF ) shares closed down $0.06 to $1.37 on the Toronto Stock Exchange.